Seoul shares open lower on bearish steelmaker, financial losses

South Korean stocks began lower Tuesday, led by a bearish steelmaker and banking firms, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 15,78 points, or 0.78 percent to 2,000.20 in the first 15 minutes of trading.

Leading steelmaker POSCO slid 1.7 percent, with No. 2 lender KB Financial Group dipping 2.7 percent.

The local currency was trading at 1,059.95 won against the U.S. dollar as of 9:15 a.m., up 1.95 won from Monday's close. (Yonhap News)