Seoul stocks open lower on foreign selling

South Korean share prices opened lower on Friday as large cap shares started bearish on foreign selling.

Seoul share prices are displayed on an electronic board at the Korea Exchange. (Yonhap)

The benchmark Korea Composite Stock Price Index slipped 5.37 points, or 0.27 percent, to 1,990.48 in the first 15 minutes of trading. As of 10:02 a.m., the index was trading 0.6 percent lower at 1983.81.

Analysts said sentiment was down on foreign net selling, which stood at over 60 billion won ($52.4 million) this morning.

Bluechips like Samsung Electronics, Hyundai Motor and POSCO were losing ground in early-morning trading. KB Financial, however, opened higher on reports that it was picked as the preferred bidder for a controlling stake in Hyundai Securities.

(khnews@heraldcorp.com)