SEOUL, March 22 (Yonhap) — South Korean stocks opened lower Monday, as investors’ concerns about the bond yields hike reduced their appetite for risky assets.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.8 points, or 0.06 percent, to 3,037.73 points in the first 15 minutes of trading.
Stocks turned lower after a choppy start, due to increasing bond yield concerns over earlier-than-expected post-pandemic inflation. The yields of the 10-year U.S. Treasury finished last week at the highest levels in about 14 months.
In Seoul, top cap Samsung Electronics added 0.37 percent, and No. 2 chipmaker SK hynix advanced 0.36 percent.
Leading chemical firm LG Chem declined 2.29 percent, and rechargeable battery maker Samsung SDI retreated 2.27 percent. Top automaker Hyundai Motor edged down 0.22 percent.
Pharmaceutical firm Samsung Biologics gained 0.71 percent, and top internet portal operator Naver fell 0.62 percent.
The local currency was trading at 1,132.35 won against the U.S. dollar, down 1.7 won from the previous session’s close.