Seoul stocks open lower on early US tapering worries

South Korean stocks opened lower Thursday as investor sentiment turned risk-averse over the US tapering jitters that stemmed from the latest Federal Reserve minutes.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.99 points, or 0.38 percent, to 3,161.06 points in the first 15 minutes of trading.

The KOSPI got off to a weak start amid foreign and institutional selling.

Stocks fell tracking the US stock decline that was largely caused by the Federal Reserve's minutes suggesting the possibility of an earlier-than-expected curbing of its asset-buying program amid signs of a fast economic recovery.

Overnight, the Dow Jones Industrial Average lost 0.48 percent, with the S&P 500 and the tech-heavy Nasdaq Composite decreasing 0.03 percent and 0.29 percent, respectively.

In Seoul, top cap Samsung Electronics edged down 0.13 percent, and No. 2 chipmaker SK hynix fell 0.41 percent.

Internet portal operator Naver gained 0.72, while pharmaceutical giant Samsung Biologics shed 2.46 percent.

Leading chemical firm LG Chem advanced 2.04 percent, but top automaker Hyundai Motor lost 0.87 percent. Giant steelmaker POSCO dipped 3.5 percent. The local currency was trading at 1,132.85 won against the US dollar, down 2.35 won from the previous session's close. (Yonhap)