Seoul shares open lower on battery, energy stock losses

Seoul shares started lower Monday as most blue chips across the board retreated, led by battery and energy-related stock losses. The benchmark Korea Composite Stock Price Index dipped 5.57 points, or 0.2 percent, to 2,789.89 in the first 15 minutes of trading. Leading battery firm LG Energy Solution dropped 2.75 percent following news that it has recently suspended construction of its joint U.S. plant with General Motors amid stagnation in growth of the electric vehicle market. Smaller rival Samsung SDI also tumbled 1.68 percent. Energy-related stocks also underwent weaker trading. Leading refiner SK Innovation fell 1.25 percent, and LG Chem declined 1.95 percent. Market behemoth Samsung Electronics, however, inched up 0.12 percent, while leading automakers Hyundai Motor and Kia added 0.58 percent and 0.34 percent, respectively. The local currency was trading at 1,387.25 won against the U.S. dollar at 9:15 a.m., down 0.55 won from the previous session's close. Source: Yonhap News Agency