Seoul shares open lower after Obama's speech

SEOUL, Sept. 9 (Yonhap) -- South Korean stocks started lower on Friday, led by auto and machinery makers, as investors showed muted response to U.S. president's keenly awaited speech on his new jobs plan, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.63 percent, or 11.71 points, to 1,834.93 in the first 15 minutes of trading.
On Thursday evening, Barack Obama urged the U.S. Congress to pass a proposed US$447 billion package to create jobs and spur the U.S. economic recovery.
The local currency was trading at 1,076.4 won to the greenback as of 9:15 a.m., down 1.4 won from Thursday's close