Seoul stocks open lower on inflation worries

South Korean stocks opened lower Monday amid investor concerns of early post-pandemic inflation.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.92 points, or 0.19 percent, to 3,182.81 points in the first 15 minutes of trading.

The KOSPI got off to a weak start as accelerating inflation may sap demand for risky assets.

The US personal consumption expenditures index picked up 0.6 percent in April, marking the fastest on-year jump since 2008.

In Seoul, top cap Samsung Electronics lost 0.37, and No. 2 chipmaker SK hynix traded flat.

Internet portal operator Naver added 0.7 percent, and pharmaceutical giant Samsung Biologics advanced 0.48 percent.

Leading chemical firm LG Chem shed 2.28 percent, but top automaker Hyundai Motor climbed 0.65 percent.

The local currency was trading at 1,116.4 won against the US dollar, down 0.9 won from the previous session's close. (Yonhap)