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Seoul stocks open nearly flat amid valuation pressure

Stocks 09:30 January 14, 2021

SEOUL, Jan. 14 (Yonhap) -- South Korean stocks opened almost flat Thursday on increased valuation pressure after the key index closed at a near all-time high the previous session.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.27 points, or 0.07 percent, to 3,150.56 in the first 20 minutes of trading.

The main index started on a muted tone as foreigners and institutions are set to lock in gains after the key index's recent bullish run.

Most large caps in Seoul traded mixed.

Market bellwether Samsung Electronics fell 0.22 percent, and No. 2 chipmaker SK hynix declined 1.88 percent.

Top automaker Hyundai Motor skid 1.74 percent, while leading chemical company LG Chem jumped 2.7 percent.

Internet portal Naver rose 3.18 percent, and rival Kakao advanced 1.1 percent.

The local currency was trading at 1,098.7 won against the U.S. dollar, down 3.6 won from the previous session's close.

yunhwanchae@yna.co.kr
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