Seoul stocks open tad lower on inflation worries

South Korean stocks opened slightly lower Thursday, led by tech drops that stemmed from concerns about earlier-than-expected inflation.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.83 points, or 0.06 percent, to 3,145.54 points in the first 15 minutes of trading.

The KOSPI got off to a weak start, tracking the overnight US tech decline.

Tech shares retreated in Seoul amid foreign selling, while bank and infrastructure shares advanced.

Top cap Samsung Electronics lost 0.97 percent, but No. 2 chipmaker SK hynix gained 1.89 percent.

Giant internet portal operator Naver decreased 0.96, while pharmaceutical giant Samsung Biologics gained 0.52 percent.

Leading chemical firm LG Chem advanced 1.2 percent, and top automaker Hyundai Motor traded flat.

The local currency was trading at 1,125.5 won against the US dollar, down 2.9 won from the previous session's close. (Yonhap)