Seoul stocks open lower on earnings caution

SEOUL, Oct. 12 (Yonhap) -- South Korean stocks started slightly lower Monday as
investors remained cautious ahead of the start of third-quarter corporate
earnings reports, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.17 point, or 0.01
percent, to trade at 1,646.62 in the first 15 minutes of trading.
Local companies are slated to report their earnings for the July-September
period, starting later this week. Chemical shares and steelmakers lost ground on
falling global commodity prices. Gains by IT firms, however, prevented the key
index from registering sharp drops.
The local currency was trading at 1,169. won to the U.S. dollar as of 9:15 a.m.,
down 4.7 won from Friday's close.
pbr@yna.co.kr
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