Stocks Start Lower on Brokerage, Steel Shares
South Korean stocks opened slightly lower Tuesday on losses among brokerages and steelmakers, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.14 points, or 0.07 percent, to 1,805.74 in the first 15 minutes of trading.
Securities companies, which chalked up strong gains in the past five sessions, faced a correction from foreign and retail selling. Leading brokerage Samsung Securities started in a negative terrain.
State-run steelmaker POSCO and its rival Hyundai Steel also lost ground in early trading.
Tech exporters, however, traded higher. Market leader Samsung Electronics and its smaller chip rival Hynix Semiconductor both gained ground.