Seoul stocks open lower on profit-taking

South Korean stocks opened lower Tuesday as foreign and institutional investors sought to cash in profits after the key stock index hit its all-time high the previous session.

The benchmark Korea Composite Stock Price Index lost 12.9 points, or 0.4 percent, to 3,196.09 points in the first 15 minutes of trading.

Samsung Electronics shed 1.01 percent, and No. 2 chipmaker SK hynix retreated 2.59 percent.

Leading chemical firm LG Chem fell 0.61 percent, while rechargeable battery maker Samsung SDI moved up 0.38 percent.

Internet portal operator Naver lost 1.15 percent, but pharmaceutical firm Samsung Biologics jumped 3.92 percent.

No. 1 carmaker Hyundai Motor retreated 1.15 percent.

The local currency was trading at 1,101.85 won against the US dollar, down 1.15 won from the previous session's close. (Yonhap)