South Korean share prices opened sharply lower on Monday to track losses on Wall Street last week.

The benchmark Korea Composite Stock Price Index fell 17.57 points, or 0.92 percent, to 1,990.05 in the first 15 minutes of trading.

At around 10:30 a.m., the index further fell to below the 1,900 mark.

Most large caps opened in negative territory with Samsung Electronics slipping 1.62 percent. No. 1 automaker Hyundai Motor lost 1.47 percent with its smaller affiliate Kia Motors shedding 1.96 percent.

Foreign investors are selling shares in Korea on concerns over China’s economic slowdown and its possible impact on emerging markets, analysts said Monday.

On Friday, the Dow Jones Industrial Average sank 1.02 percent following a stock rout in the Chinese markets.

According to the data compiled by the Korea Exchange, offshore investors have been on a selling mode since Dec. 2, except for a brief turnaround to a net-buying mode Wednesday, offloading a net 3.96 trillion won ($3.28 billion) worth of shares traded on the main KOSPI market.

The 25-day-long selling streak up until Friday is the third longest recorded so far, according to the KRX.

Wednesday’s net purchase was due to a block deal of Korea Aerospace Industries ahead of the aircraft manufacturer’s formal contract with Indonesia’s Defense Ministry to jointly develop its next-generation fighter plane.

Foreigners shed more big cap shares than smaller stocks during the cited period, the KRX data showed.

The top selling stock was Samsung Electronics, with the value totaling 1.62 trillion won. It was followed by 307.8 billion won of shares of top steelmaker POSCO, 173.3 billion won of Samsung Fire & Marine Insurance and 158 billion won of automaker Hyundai Motor.

(khnews@heraldcorp.com)