Stocks open lower as earnings season approaches

The Kospi fell 6.06 points, or 0.25 percent, to 2,450.09 in the first 15 minutes of trading.

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets open on Monday. [NEWS1]

Shares started lower Monday as investors took a cautious approach before the earnings season.

The Kospi fell 6.06 points, or 0.25 percent, to 2,450.09 in the first 15 minutes of trading.

The Kosdaq dropped 12.38 points, or 1.50 percent, to 810.59.

Most major publicly traded companies report quarterly earnings starting next week, with SK hynix on Oct. 26 and Samsung Electronics on Oct. 31.

Battery shares led the decline, with LG Energy Solution, the second-biggest company by 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.

Naver fell 0.83 percent, and NCSoft dropped 0.89 percent.

Carmakers opened with gains, with Hyundai Motors rising 0.48 percent and Kia growing 0.71 percent.

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

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]