Seoul Shares Start Lower on Wall Street Fall

South Korean stocks got off to a slow start Thursday as investor sentiment went sour due to the overnight fall of Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 16.9 points, or 0.95 percent, to 1,757.23 in the first 15 minutes of trading.

Most shares showed declines. Tech giant Samsung Electronics fell 1.85 percent and Shinhan Financial Group, the No. 2 financial services firm, lost 2.57 percent.

Hankook Tire, the country's largest tiremaker, shed almost 5 percent after announcing Wednesday that France's Michelin raised its stake in Hankook Tire to 8.9 percent from 6 percent.

U.S. stocks closed lower Wednesday on renewed credit woes and a weaker earnings outlook for FedEx Corp. The Dow Jones industrial average shed 1.08 percent and the tech-dominated Nasdaq

composite index fell 1.14 percent.

The tech-loaded Kosdaq market opened at 612.86, down 1.97 points, or 0.32 percent.

The Korean won was trading at 1,028.50 won to the U.S. dollar, up 0.60 won from Wednesday's close.