Seoul stocks open lower on recovery woes

SEOUL (Yonhap) - South Korean stocks opened lower Thursday as economic recovery concerns triggered by weak U.S. data unnerved investors, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 9.25 points, or 0.44 percent, to trade at 2,074.10 in the first 15 minutes of trading.
The drop came after U.S. shares extended their losing streak to a sixth straight session on Wednesday amid a lack of signs for a third round of economic stimulus measures.
Due to worries about an economic slowdown triggered by weak May employment data, the Dow Jones industrial average ended 0.18 percent lower in the previous session.
Big-cap local exporters like carmakers and electronics firms led the KOSPI losses as foreigners cut their holdings of local shares.
The local currency was trading at 1,083.4 won to the U.S. dollar as of 9:15 a.m., down 3.3 won from Wednesday's close.