SEOUL: South Korean stocks started lower Monday, driven by losses in brokerages, telecom and large-cap shares, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.14 points, or 0.35 percent, to 2,038.82 in the first 15 minutes of trading.
Major brokerage issues lost ground significantly, with Mirae Asset Securities sliding nearly 2 percent. Telecom shares also opened bearish, with SK Telecom retreating almost 1 percent.
Cosmetics companies were among gainers. Market leader AmorePacific surged over 4 percent.
The local currency was trading at 1,172.25 won against the U.S. dollar as of 9:15 a.m., down 4.35 won from Friday’s close.
