Seoul shares open lower on foreign selloff

South Korean stocks got off to a weak start Thursday, led by a selling binge by foreign investors in large-cap shares, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 10.39 points, or 0.55 percent, to 1,877.10 in the first 15 minutes of trading.

Foreigners sold more than 44.2 billion won (US$39.4 million) worth of local equities as of 9:15 a.m.

Blue-chip stocks lost ground, with Samsung Electronics shedding 0.8 percent and steelmaker POSCO losing nearly 1 percent. Major financial player Shinhan Financial Group sank more than 2 percent.

The local currency was trading at 1,118.55 won against the U.S. dollar as of 9:15 a.m., up 3.05 won from Wednesday's close. (Yonhap News)