Seoul shares fall on finance losses

SEOUL, Sept. 11 (Yonhap) -- South Korean stocks opened lower Thursday as institutions and foreign investors unloaded finance issues ahead of a scheduled monthly rate-setting decision by the central bank, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.98 points, or 0.14
percent, to 1,463 in the first 15 minutes of trading.

Most shares got off to a weak start. Finance issues lost the most, with top
lender Kookmin Bank and leading non-life insurer Samsung Fire & Marine both
trading lower. Telecom and steel shares also lost ground.

Tech exporters and construction stocks gained, however. Samsung Electronics
climbed more than 2 percent and flat panel giant LG Display also rose nearly 2
percent.

The Bank of Korea, the central bank, is scheduled to decide on the country's key
interest rate for September later in the day. The bank is largely expected to
leave the rate unchanged at 5.25 percent following its quarter-percentage-point
raise last month, the first increase in a year, which was aimed at fighting
spiraling inflation.

The local currency was trading at 1,094.85 won to the U.S. dollar as of 9:15
a.m., up 0.65 won from Wednesday's close.