Seoul shares turn lower after strong start

Korean stocks turned lower following a high opening on Friday as institutional and retail investors opted to offload their shares, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.26 points, or 0.17 percent, to 1,954.65 in the first 15 minutes of trading.

Techs led the decline with market bellwether Samsung Electronics slumping 1.93 percent. Some major exporters, however, outperformed the KOSPI. Top shipyard Hyundai Heavy Industries jumped 2.9 percent.

The local currency was trading at 1,132.55 won to the U.S. dollar as of 9:15 a.m., up 1.45 won from Thursday's close.

(Yonhap News)