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Seoul shares open lower on growth concerns

By KH디지털뉴스부공용

Published : July 17, 2012 - 09:26

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South Korean stocks got off to a weak start on Tuesday as concerns over global growth and weak U.S. economic data strained investor sentiment, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) slipped 14.1 points, or 0.78 percent, to 1,803.69 in the first 15 minutes of trading.

On Monday, the International Monetary Fund (IMF) revised down its 2013 forecast for global growth and U.S. retail sales data fell for the third straight month in June.

Most blue chips traded in negative territory, with Hyundai Motor slumping 3.28 percent and OCI tumbling 5.66 percent.

The local currency was trading at 1,144.15 won to the U.S. dollar as of 9:15 a.m., up 2.85 won from Monday's close. (Yonhap News)

Seoul shares open lower on growth concerns

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