Seoul shares start lower on Wall Street losses
SEOUL, Jan. 4 (Yonhap) -- South Korean stocks opened lower on Monday on the first trading session of 2016, taking a cue from Wall Street losses seen last week.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 4.47 points, or 0.74 percent, to 1,946.84 in the first 15 minutes of trading.
Top market cap Samsung Electronics slumped 1.43 percent, and global chipmaker SK Hynix fell 1.14 percent.
No. 1 automaker Hyundai Motor fell 2.01 percent and its smaller affiliate Kia Motors shed 3.04 percent.
U.S. stocks dropped by more than 1 percent on Thursday on the final trading session of 2015 on a decline in tech stocks. Apple Inc. fell for the fourth time in five days, dropping 4.7 percent last year, its worst in seven years.
The local currency was trading at 1,181.25 won against the U.S. dollar as of 10:15 a.m., down 8.75 won from the previous session's close.
The South Korean stock and currency market opened an hour later than usual due to the New Year's opening ceremony.