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Stock market in South Korea (Yonhap) |
South Korean stocks opened lower Wednesday as investors awaited the results of the US Federal Open Market Committee (FOMC) meeting,
The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.05 points, or 0.19 percent, to 3,209.37 points in the first 15 minutes of trading.
The KOSPI traded bearish as the yield rate of the US 10-year Treasury bounced back above the 1.6 percent level amid expectations of faster-than-expected global recovery from the pandemic.
Tech shares slumped, while insurance and auto shares got off to a strong start.
Top cap Samsung Electronics slipped 0.12 percent, and No. 2 chipmaker SK hynix advanced 2.22 percent.
Giant internet portal operator Naver retreated 0.79 percent, and its rival Kakao moved down 1.23 percent.
Pharmaceutical giant Samsung Biologics declined 0.37 percent, and leading chemical firm LG Chem lost 1.8 percent. Top automaker Hyundai Motor gained 1.14 percent.
The local currency was trading at 1,113.65 won against the US dollar, down 3.25 won from the previous session's close. (Yonhap)
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