Seoul shares open lower on auto falls

Korean stocks got off to a weak start on Thursday due mainly to falls in the auto sector, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) slipped 2.49 points, or 0.13 percent, to 1,954.47 in the first 15 minutes of trading.

Key automakers led the decline, with top player Hyundai Motor declining 0.8 percent and its smaller affiliate Kia Motors losing 1.15 percent.

Kumho Tire, Korea's No. 2 tire maker, slumped 3.8 percent on concerns over an indefinite walkout

The local currency was trading at 1,132.95 won to the U.S. dollar as of 9:15 a.m., down 3.35 won from Tuesday's close. The local financial market was closed Wednesday due to Liberation Day.

(Yonhap News)