South Korea's KOSPI fell more than 2 percent in early trade on May 13, sliding into the 7,400s. Foreign investors extended net selling for a fifth straight session, following a sharp drop near the 8,000 level a day earlier, dampening sentiment.

As of 9:11 a.m., the KOSPI was down 173.75 points, or 2.27 percent, from the previous close at 7,469.40. The index opened down 129.50 points, or 1.69 percent, at 7,513.65 and remained lower.

By investor type, individuals were net buyers of 819.3 billion won and institutions were net buyers of 270.0 billion won, while foreigners were net sellers of 1.10 trillion won.

A day earlier, foreigners net sold more than 6.0 trillion won on the main stock market, extending their selling streak to 5 sessions.

Large-cap stocks were mostly weaker. Samsung Electronics fell 5.20 percent to 264,500 won, and SK Hynix slipped 1.91 percent to 1.80 million won.

SK Square fell 2.31 percent, LG Energy Solution lost 1.58 percent, Doosan Enerbility dropped 4.30 percent and Samsung Biologics declined 0.49 percent. Hyundai Motor rose 1.55 percent, HD Hyundai Heavy Industries gained 0.85 percent and Samsung Electro-Mechanics was up 0.10 percent.

The KOSDAQ was down 8.85 points, or 0.75 percent, at 1,170.44 at the same time.

In Seoul's foreign exchange market, the won was quoted at 1,493.50 per dollar, down 1.50 won.