Korean stocks started higher on Thursday, but lost ground soon as Europe's debt crisis weighed on investor sentiment here, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 0.41 point, or 0.02 percent, to trade at 1,855.66 in the first 15 minutes of trading.
Bank shares were under selling pressure, tracking losses in their U.S. peers. U.S. bank shares lost ground as global rating agency Fitch Ratings warned that it may cut its outlook for U.S. banks if Europe's debt crisis is not resolved in a timely manner.
The local currency was trading at 1,138.55 won to the U.S. dollar as of 9:15 a.m., down 1.95 won from Wednesday's close. (Yonhap)