Seoul shares got off to a weak start on Friday as grim economic news and the subsequent falls on Wall Street hurt investor sentiment, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) sank 26.13 points, or 1.32 percent, to 1,955.45 in the first 15 minutes of trading.
U.S. stock markets plummeted on Thursday as a string of reports, including a rise in U.S. unemployment insurance claims and Spain’s credit downgrade, renewed jitters.
The Dow Jones industrial average fell 1.87 percent and the tech-focused Nasdaq Composite index plunged 1.84 percent.
The local currency was trading at 1,126.3 won to the greenback as of 9:15 a.m., down 4.8 won from Thursday’s close.