Seoul shares open lower ahead of earnings season

South Korean stocks started a tad lower Monday as investors took a cautious approach ahead of the earnings season.

The benchmark Korea Composite Stock Price Index fell 6.06 points, or 0.25 percent, to 2,450.09 in the first 15 minutes of trading.

Most of the major publicly traded companies report their quarterly earnings starting next week, with market heavyweights SK hynix and Samsung Electronics slated for Oct. 26 and Oct. 31, respectively.

Battery shares led the decline, with industry leader LG Energy Solution, the second-biggest share in terms of market cap, losing 1.14 percent and Posco Future M sinking 3.74 percent.

Builders were also among the losers, with Hyundai Engineering & Construction decreasing 0.7 percent and Samsung C&T skidding 0.28 percent.

Top online portal operator Naver fell 0.83 percent, and leading game developer NCSOFT dropped 0.89 percent.

The local currency was trading at 1,351.25 won against the US dollar at 9:15 a.m., down 1.25 won from the previous session's close. (Yonhap)

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