Seoul stocks open nearly flat on inflation woes

South Korean stocks opened nearly flat Tuesday as investors are keeping an eye on signs that may stoke inflation fears.

The benchmark Korea Composite Stock Price Index (KOSPI) traded down 1.36 points, or 0.04 percent, at 3,202.56 points in the first 15 minutes of trading.

The KOSPI got off to a muted start on investor concerns over early post-pandemic inflation that may trigger tapering talks in the United States. Key Federal Reserve officials are set to comment on the state of the US economy Wednesday (US time).

In Seoul, market bellwether Samsung Electronics lost 0.25 percent, and No. 2 chipmaker SK hynix moved down 0.39 percent.

Internet portal operator Naver added 0.55 percent, and giant pharmaceutical firm Samsung Biologics advanced 1.54 percent.

Top automaker Hyundai Motor traded flat, and leading chemical firm LG Chem climbed 0.24 percent.

The local currency was trading at 1,109.3 won against the US dollar, up 1.6 won from the previous session's close. (Yonhap)