SEOUL, Feb. 18 (Yonhap) — South Korean stocks opened lower Thursday, tracking overnight tech losses on Wall Street that stemmed from inflation concerns.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.8 points, or 0.15 percent, to 3,128.93 points in the first 15 minutes of trading.
Foreign and institutional appetite for risk assets remained low after the KOSPI’s 0.93 percent decline in the previous session.
Overnight, the Nasdaq lost 0.58 percent as tech stocks, sensitive to high inflation, retreated amid expectations of global economic rebound.
Tech fared weak in Seoul as well, while bio came to a strong start.
Top cap Samsung Electronics slipped 0.12 percent, and No. 2 chipmaker SK hynix shed 1.15 percent.
Top automaker Hyundai Motor moved down 0.12 percent, while giant internet portal operator Naver gained 0.77 percent.
Pharmaceutical giant Samsung Biologics advanced 0.64 percent, with Celltrion climbing 0.62 percent.
Leading chemical firm LG Chem declined 0.94 percent.
The local currency was trading at 1,105.85 won against the U.S. dollar, up 1.65 won from the previous session’s close.