Seoul stocks open weaker on U.S. bank regulations

SEOUL, Jan. 27 (Yonhap) -- South Korean stocks got off to a weak start Wednesday on lingering concerns over U.S. plans to restrict risky trading by big banks, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.76 points, or 0.54
percent, to trade at 1,628.58 in the first 15 minutes of trading.
Key exporters, including tech firms and auto makers, led the market decline after
Wall Street shares drifted lower Tuesday on reports that the proposed bank
regulations are taking shape. The Dow Jones industrial average shed 0.03 percent
with the tech-heavy Nasdaq falling 0.32 percent.
The local currency was trading at 1,159.70 won to the U.S. dollar, up 3.60 won
from Tuesday's close, after the Bank of Korea said earlier in the morning the
nation's current account swung to an all-time high surplus of US$42.67 billion in
2009, from a shortfall of $5.78 billion the previous year.
pbr@yna.co.kr
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