Seoul Shares Open Lower on Institutional Selling

South Korean stocks opened lower Thursday as institutional investors unloaded most blue-chip stocks including steel and finance.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.45 points, or 0.57 percent, to 1,823.36 in the first 15 minutes of trading.

Most blue chips lost ground. Top steel maker POSCO fell 0.85 percent following its recent rally, while No. 1 lender Kookmin Bank and other banking shares were also trading lower.

Tech and machinery makers gained. Market heavyweight Samsung Electronics and Doosan Heavy Industries, a leading power generator producer, rose.

The tech-heavy Kosdaq market gained 2.30 points, or 0.36 percent, to 648.15 after the opening bell.

Meanwhile, the Korean won was trading at 1,021.5 won to the U.S. dollar., down 4.15 won from Wednesday's close.