Seoul stocks open lower on financial share losses

SEOUL, Jan. 2 (Yonhap) -- South Korean stocks got off to a weak start Friday in
the first session for 2009 as investors remained skeptical about an economic
recovery, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.55 points, or 0.14
percent, to 1,122.92 in the first 15 minutes of trading.
Financial shares were the major drag on the bourse, but shipbuilders helped
prevent a freefall after a report Wednesday showed annual sales of Hyundai Heavy
Industries, the world's biggest dockyard, rose 26 percent last year.
The local stock market opened an hour later than usual at 10:00 a.m. after ending
the 2008 trading year on Tuesday.
The local currency was trading at 1,315.5 to the U.S. dollar as of 10:15 a.m.,
down 56 won from Tuesday's close.
pbr@yna.co.kr
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