Seoul shares open lower on steel, telecom losses

SEOUL, June 18 (Yonhap) -- South Korean stocks started lower Thursday as losses
in steel and telecom shares weighed on the market, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.58 points, or 0.62
percent, to 1,382.59 in the first 15 minutes of trading.
Major shares traded lower, with steel and telecom shares losing ground. Auto
shares opened strong but soon turned negative, while recently beaten-down
financial shares traded slightly high on bargain hunting.
The local currency was trading at 1,264.2 won to the U.S. dollar as of 9:15 a.m.,
down 4.4 won from Wednesday's close.
kokobj@yna.co.kr
(END)