Seoul shares open lower on Wall Street losses

Korean share prices opened lower Wednesday following losses in New York.

The benchmark Korea Composite Stock Price Index fell 9.90 points to 1,958.16 in the first 15 minutes of trading.

The drop came after stocks on Wall Street suffered a steep decline. The Dow Jones industrial average lost 1.02 percent to close at 17,529.98.

Analysts said investor sentiment was also dented following reports from the U.S. showing its consumer price index rising at the fastest rate in nearly three years last month. The data added to growing anticipation that the U.S. Federal Reserve will soon raise its key interest rate.

Most large caps were in negative terrain in the morning session. No. 1 cosmetics maker AmorePacific shed 0.7 percent, while an auto parts giant plunged 1.76 percent.

Market bellwether Samsung Electronics lost 0.16 percent, while top automaker Hyundai Motor remained flat.

(khnews@heraldcorp.com)