Seoul shares plunge following Wall Street setbacks

SEOUL, Nov. 7 (Yonhap) -- South Korean stocks opened more than 4 percent lower
Friday, taking a cue from overnight plunges in U.S. markets, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 46.72 points, or
4.28 percent, to 1,045.5 in the first 15 minutes of trading.
On Thursday, U.S. stocks closed sharply down on growing concerns over the health
of the economy. The Dow Jones industrial average tumbled 4.85 percent and the
tech-heavy Nasdaq lost 4.34 percent.
The local currency was trading at 1,364.55 won to the U.S. dollar as of 9:15
a.m., down 33.75 won from Thursday's close.
kokobj@yna.co.kr
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