Seoul shares open lower on earnings woes

SEOUL, Jan. 20 (Yonhap) -- South Korean stocks got off to a weak start Tuesday as
investor sentiment was dented by gloomy corporate earnings outlooks and a slowing
economy, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 21.19 points, or
1.84 percent, to 1,129.46 in the first 15 minutes of trading.
Fourth-quarter earnings of several large-cap companies are widely expected to
fall short of market expectations due to a global economic slump.
Market leader Samsung Electronics and LG Electronics are slated to release their
fourth-quarter earnings reports later this week.
The local currency was trading at 1,374 to the U.S. dollar as of 9:15 a.m., down
10.50 won from Monday's close.
ygkim@yna.co.kr
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