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Seoul stocks open lower on inflation worries

Stocks 09:32 February 24, 2021

SEOUL, Feb. 24 (Yonhap) -- South Korean stocks opened lower Wednesday, tracking overnight tech losses on Wall Street that stemmed from U.S. inflation concerns.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.46 points, or 0.37 percent, to 3,058.63 points in the first 15 minutes of trading.

Samsung Electronics retreated 0.49 percent, and No. 2 chipmaker SK hynix shed 0.36 percent.

Top automaker Hyundai Motor moved down 0.2 percent, with internet portal operator Naver declining 1.02 percent. Leading chemical firm LG Chem added 0.79 percent.

Pharmaceutical firm Samsung Biologics dropped 1.18 percent, and Celltrion lost 0.84 percent.

The local currency was trading at 1,109.6 won against the U.S. dollar, down 1 won from the previous session's close.


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