Seoul shares open lower on U.S. concerns

South Korean stocks started lower Monday as investor sentiment was dented by rising concerns over the United States' sequestration, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.54 points, or 0.13 percent, to 2,016.35 in the first 15 minutes of trading.

Shares lost ground across the board, with top chipmaker SK hynix moving down 1.14 percent and top flat panel manufacturer LG Display falling 0.49 percent. Top steelmaker POSCO lost 1.1 percent.

Carmakers also traded lower, with No. 1 player Hyundai Motor losing 1.39 percent and its smaller affiliate Kia Motors declining 1.08 percent. Top auto parts manufacturer Hyundai Mobis decreased 1.29 percent.

The local currency was trading at 1,087.15 won to the U.S. dollar as of 9:15 a.m., down 2.45 won from Friday's close. (Yonhap News)