 |
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap) |
South Korean stocks opened lower Thursday, taking a cue from heavy losses on Wall Street that stemmed from quick inflation concerns.
The benchmark Korea Composite Stock Price Index (Kospi) fell 37.33 points, or 1.18 percent, to 3,124.33 points in the first 15 minutes of trading.
Overnight, the tech-heavy Nasdaq Composite fell 2.67 percent as the US consumer prices expanded in April by the most since 2009, increasing investor worries that the US Federal Reserve's tapering may come sooner than expected. The Dow Industrial Average and the S&P 500 retreated 1.99 percent and 2.14 percent, respectively.
In Seoul, market behemoth Samsung Electronics shed 1.38 percent, and No. 2 chipmaker SK hynix lost 2.09 percent.
Chemical firm LG Chem declined 1.16 percent, and rechargeable battery maker Samsung SDI dipped 3.79 percent.
Internet portal giant Naver decreased 2.19 percent, while pharmaceutical company Samsung Biologics advanced 0.35 percent. Leading carmaker Hyundai Motor declined 0.44 percent.
The local currency was trading at 1,131.65 won to the US dollar, down 6.95 won from the previous session's close. (Yonhap)
