Seoul shares turn lower after strong start

SEOUL, Aug. 22 (Yonhap) -- South Korean stocks got off to a strong start on Monday, but shifted to negative territory as retail investors and foreigners beefed up their net selling, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.79 points, or 0.05 percent, to 1,744.09 in the first 15 minutes of trading. After starting higher, the KOSPI trimmed gains as retail and foreign selling outweighed net buying by institutions. Blue-chip exporters, however, were bullish, with Samsung Electronics gaining more than 1 percent and LG Display jumping almost 3 percent. The local currency was changing hands at 1,083.05 won to the U.S. dollar as of 9:15 a.m., up 4.35 won from Friday's close.