Seoul stocks drop nearly 3 pct at open, banks fall

SEOUL, Feb 11 (Reuters) - Seoul stocks dropped nearly 3 percent early on Monday as banks and technology shares were hammered by heavy selling from investors trying to price in global markets' slide during the Lunar New Year holiday.

The Korea Composite Stock Price Index was down 2.72 percent at 1,650.42 points by 0008 GMT, catching up with world markets after last week's three-day South Korean holiday.

Kookmin Bank (060000.KS: Quote, Profile, Research, Stock Buzz) fell 4.19 percent to 59,400 won and LG.Philips LCD Co Ltd (034220.KS: Quote, Profile, Research, Stock Buzz) shed 2.94 percent to 39,650 won. (Reporting by Rhee So-eui; Editing by Keiron Henderson)