Seoul shares open lower on finance losses

SEOUL, May 18 (Yonhap) -- South Korean stocks started lower Monday as financial
shares lost ground following anemic performance in U.S. stocks last week,
analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 14.48 points, or
1.04 percent, to 1,377.25 in the first 15 minutes of trading.
Most large-cap shares started in negative territory with banks and brokerage
issues leading the pullbacks.
On Friday, U.S. stocks closed lower as energy shares dropped amid concerns about
weak demand. The Dow Jones Industrial Average fell 0.75 percent and the Nasdaq
Composite Index lost 0.54 percent.
The local currency was trading at 1,272.45 to the U.S. dollar as of 9:15 a.m.,
down 15.45 won from Friday's close.
kokobj@yna.co.kr
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