Korean stocks open nearly flat

South Korean stocks started almost flat on Wednesday following Wall Street's overnight losses.

The benchmark Korea Composite Stock Price Index fell 0.25 points, or 0.01 percent, to 2,039.49 in the first 15 minutes of trading.

In New York, the Dow Jones Industrial Average lost 48.69 points, or 0.26 percent, at 18,454.30. Market observers attributed the declined to renewed concern about the timing of the US interest rate hike.

On the Seoul bourse, large caps were mixed.

Market behemoth Samsung Electronics lost 1.09 percent, while global chipmaker SK hynix declined 0.41 percent.

The state-run Korea Electric Power Corp. added 0.17 percent.

Leading automaker Hyundai Motor gained 0.38 percent.

The stock trade of Hanjin Shipping, the nation's top shipper, was suspended with its board of directors scheduled to decide on court receivership later in the day.

The South Korean won was trading at 1,118.80 won against the US greenback, up 1.10 won from the previous session's close. (Yonhap)