Seoul shares open lower on profit taking

SEOUL, South Korean stocks opened lower Tuesday as investors sought profit after a sharp rise the previous session, with tech and auto shares leading the losses. The benchmark Korea Composite Stock Price Index fell 8.26 points, or 0.31 percent, to 2,666.01 in the first 15 minutes of trading. Overnight, the U.S. stock market closed lower, with the Dow Jones Industrial Average falling 0.25 percent and the tech-heavy Nasdaq Composite losing 0.41 percent. In Seoul, tech shares opened mostly bearish, with Samsung Electronics falling 0.93 percent and No. 2 chipmaker SK hynix losing 1.02 percent. Leading carmaker Hyundai Motors shed 2.54 percent and its sister Kia slid 1.83 percent. Auto parts maker Hyundai Mobis added 0.4 percent. Financial shares, meanwhile, traded higher, with KB Financial rising 1.74 percent and Shinhan Financial increasing 1.02 percent. The local currency was trading at 1,331.4 won against the U.S. dollar, down 0.1 won from the previous session's close. Source: Yonhap News Agency