Seoul shares start weaker on tech, chemical losses

South Korean shares opened lower on Wednesday on losses in tech and chemicals firms.

The benchmark Korea Composite Stock Price Index (KOSPI) edged down 1.72 points, or 0.09 percent, to 1,928.81 in the first 15 minutes of trading.

Market heavyweights traded mixed.

Top market cap Samsung Electronics fell 0.66 percent, while global chipmaker SK Hynix advanced 0.16 percent.

No. 1 automaker Hyundai Motor gained 0.7 percent, and its smaller affiliate Kia Motors rose 0.59 percent.

LG Chem, the country's top chemicals maker, slipped 0.29 percent.

he global stock market has stabilized recovering from China's stock rout, triggered by concerns over a slowdown in the world's No. 2 economy.

On Monday, China's stock market plunged nearly 7 percent, hitting the lowest level in nearly three months on renewed concerns over a slowdown in the world's No. 2 economy.

U.S. stocks finished little changed on Tuesday rebounding from the previous session's drop.

The local currency was trading at 1,189.95 won against the U.S. dollar as of 9:15 a.m., down 1.95 won from the previous session's close. (Yonhap)