Seoul shares open lower on Wall Street plunges

SEOUL, June 16 (Yonhap) -- South Korean stocks started sharply lower Tuesday as
investor sentiment was dented by overnight plunges in U.S. markets, analysts
said.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 20.48 points, or
1.45 percent, to 1,391.94 in the first 15 minutes of trading.
Large-cap shares lost significant ground across the board, with steel and tech
exporters leading the downturn.
On Monday, Wall Street tumbled after bleaker-than-expected manufacturing data
dimmed the outlook for an economic recovery. The Dow Jones industrial average
fell 2.13 percent and the tech-laden Nasdaq composite index slid 2.28 percent.
The local currency was trading at 1,271.25 won to the U.S. dollar as of 9:15
a.m., down 9.25 won from Monday's close.
kokobj@yna.co.kr
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