Seoul stocks open lower on Wall Street tumbles, inflation woes

SEOUL, March 24 (Yonhap) -- South Korean shares opened lower Thursday, tracking overnight losses on Wall Street, led by declines in big-cap tech and auto shares, amid rising woes over inflation.

The benchmark Korea Composite Stock Price Index (KOSPI) had shed 18.15 points, or 0.66 percent, to reach 2,716.90 as of 9:15 a.m.

Overnight, the U.S. stock market tumbled amid renewed concerns over rising energy prices and inflation. The Dow Jones Industrial Average fell 1.29 percent, and the Nasdaq composite dropped 1.23 percent.

On the Seoul bourse, most large-cap shares were in negative terrain, with tech and auto shares dragging down the index.

Market bellwether Samsung Electronics fell 0.57 percent, and major battery maker LG Energy Solution skidded 1.23 percent.

No. 2 chipmaker SK hynix lost 1.62 percent, and top automaker Hyundai Motor and its affiliate Kia fell 0.57 percent and 0.97 percent, respectively.

But LG Chem advanced 0.98 percent, and energy giant SK Innovation rose 0.71 percent.

The local currency was trading at 1,218.80 won against the U.S. dollar, down 5.0 won from the previous session's close.

graceoh@yna.co.kr
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