Seoul shares open lower on Fed statement

By Lee Youkyung
SEOUL, Dec. 17 (Yonhap) -- South Korean stocks started slightly lower Thursday as
investor sentiment was dented by the U.S. central bank's comment that it will
wind down emergency economic support next year, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) inched down 2.21 points,
or 0.13 percent, to 1,662.03 in the first 15 minutes of trading.
On Wednesday, the U.S. Federal Reserve decided to freeze the key interest rate at
a record low, but hinted at a possible rate hike next year, citing the improving
economy. Concerns that the Fed will prepare to dismantle emergency support
weighed down the Seoul bourse, leading to losses in large-cap shares.
The local currency was trading at 1,166.9 won to the greenback as of 9:15 a.m.,
down 2 won from Wednesday's close.
ylee@yna.co.kr
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