Seoul shares open lower on losses in techs, telecoms

South Korean stocks began lower Wednesday due to losses in technology firms and mobile carriers, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.4 points, or 0.27 percent, to 2,017.24 in the first 15 minutes of trading.

Tech shares led the market decline, with Samsung Electronics falling 0.74 percent and its smaller local rival LG Electronics moving down 0.15 percent. Flat panel maker LG Display shed 0.63 percent.

Mobile carriers also traded bearish, with KT losing 0.15 percent and LG Uplus falling 0.47 percent. Top player SK Telecom remained unchanged.

The local currency was trading at 1,060.40 won against the U.S. dollar as of 9:15 a.m., down 0.50 won from Tuesday's close. (Yonhap News)