Seoul stocks open lower on recovery woes

By Lee Youkyung
SEOUL, Nov. 2 (Yonhap) -- South Korean stocks started sharply lower Monday as the
bankruptcy of a U.S. lender fed investor doubts about the economic recovery,
analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) sank 28.26 points, or
1.79 percent, to 1,552.43 in the first 15 minutes of trading.
Most sectors traded in negative territory as the CIT Group's filing for
bankruptcy on Sunday dampened investor sentiment, leading them to unload their
stocks.
Samsung Electronics Co. lost more than 1 percent and KB Financial Group shed
nearly 2 percent.
The local currency was trading at 1,193.35 to the greenback as of 9:15 a.m., down
10.85 won from Friday's close.
ylee@yna.co.kr
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