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Stocks open lower on overnight US fall, profit-taking

South Korean stocks opened lower Wednesday, as investors took a cue from overnight losses on Wall Street and attempted to lock in recent gains.

The benchmark Korea Composite Stock Price Index shed 2.65 points, or 0.12 percent, to 2,131.13 in the first 15 minutes of trading.


On Tuesday, the KOSPI closed at an almost two-year high on the back of continued foreign buying.

Most large caps traded mixed, with market kingpin Samsung Electronics rising 0.05 percent.

POSCO, the country's leading steelmaker, was down 0.98 percent, and Hyundai Motor, the No. 1 automaker, shed 1.01 percent.

SK Telecom advanced 0.81 percent, and AmorePacific, the leading cosmetics maker, climbed 0.9 percent.

The local currency was trading at 1,147.40 won against the US dollar, up 0.30 won from the previous session's close. (Yonhap)

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