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Stock market in South Korea (Yonhap) |
South Korean stocks opened lower Thursday as investor sentiment weakened over the US Federal Reserve minutes that hinted at the possibility of an earlier-than-expected tapering timeline.
The benchmark Korea Composite Stock Price Index (Kospi) fell 11.18 points, or 0.35 percent, to 3,147.75 points in the first 15 minutes of trading.
Stocks got off to a lackluster start, tracking the overnight Wall Street stock plunge.
The Dow Jones Industrial Average lost 1.08 percent as Federal Reserve minutes signaled that the US central bank could start rolling back its accommodative policies as early as later this year. The tech-heavy Nasdaq Composite and the S&P 500 slumped 0.89 percent and 1.07 percent, respectively.
In Seoul, market kingpin Samsung Electronics added 0.41 percent, and No. 2 chipmaker SK hynix advanced 0.96 percent.
Internet portal giant Naver decreased 0.35 percent, and leading carmaker Hyundai Motor retreated 0.71 percent. Giant chemical maker LG Chem declined 0.45 percent.
Top pharmaceutical firm Samsung Biologics slipped 0.1 percent, while bank top cap Kakao Bank jumped 4.02 percent.
The local currency was trading at 1,172.3 won to the US dollar, down 4.3 won from the previous session's close. (Yonhap)
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