Seoul shares open flat on sudden oil price hike

South Korean stocks opened nearly flat Thursday as investors took a wait-and-see approach following an unexpected surge in global oil prices, analysts said.

The benchmark Korea Composite Stock Price Index inched up 0.76 point, or 0.04 percent, to 1,913.41 in the first 15 minutes of trading.

Tech shares traded mixed, with Samsung Electronics edging up 0.07 percent while LG Electronics shed 0.97 percent. No. 2 chipmaker SK hynix climbed 0.82 percent.

Both Hyundai Motor and its smaller affiliate Kia Motors started off bearish, moving down 0.56 percent and 0.75 percent, respectively. Car parts maker Hyundai Mobis, in contrast, rose 1.76 percent.  

The local currency was trading at 1,084.60 won against the U.S. dollar as of 9:15 a.m., down 2.40 won from Wednesday's close. (Yonhap)