Seoul shares open lower on profit taking

South Korean stocks opened lower Thursday as investors sought after profit taking, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) moved down 4.62 points, or 0.24 percent, to 1,907.46 in the first 15 minutes of trading.

Carmakers led the decline, with No. 1 player Hyundai Motor losing 0.89 percent and its smaller affiliate Kia Motors falling 0.83 percent. Top shipbuilder Hyundai Heavy Industries shed 0.48 percent.

Retailers also traded lower, with Lotte Shopping moving down 0.28 percent and Samsung C&T, a major local trading company, falling 0.72 percent. Discount store chain E-Mart lost 0.97 percent.

The local currency was trading at 1,118.55 won against the U.S. dollar as of 9:15 a.m., down 5.85 won from Wednesday's close. (Yonhap News)