Seouls shares open lower on Wall Street setbacks

SEOUL, Jan. 22 (Yonhap) -- South Korean stocks got off to a weak start Friday as overnight falls in U.S. stock markets dampened investor sentiment, analysts said.

The Korea Composite Stock Price Index (KOSPI) slid 16.94 points, or 0.98 percent,
to 1,705.67 in the first 15 minutes of trading.
The U.S. stock market stumbled Thursday as President Barack Obama proposed an
overhaul of the nation's banking system that could limit financial companies'
ability to make huge profits on trading. The Dow Jones industrial average skidded
213 points after dropping 122 points on Wednesday, giving the Dow its biggest
two-day point drop since late March.
The local currency was trading at 1,705.67 won to the U.S. dollar, down 7.90 won
from Thursday's close.
ygkim@yna.co.kr
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