Seoul shares start lower on extended slump in oil prices

South Korean stocks opened lower Friday, tracking overnight losses on Wall Street, as investors locked in profits amid lingering concerns over faltering oil prices.

The benchmark Korea Composite Stock Price Index shed 13.8 points, or 0.7 percent, to 1,964.16 in the first 15 minutes of trading.

Following three sessions of gains, the Dow Jones industrial average shed 1.5 percent on Thursday and the Nasdaq dropped 1.35 percent, after U.S. crude fell to the lowest level since February 2009.

The selling was broad, with most blue chips trading in negative territory.

Market bellwether Samsung Electronics dropped 1.4 percent, and Samsung SDI, its battery-manufacturing unit, sank 5.88 percent.

Auto shares also dragged down the index, with top carmaker Hyundai Motor losing 0.64 percent.

The local currency was trading at 1,185.7 won against the U.S. dollar as of 9:15 a.m., down 5.6 won from Thursday's close. (Yonhap)