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Seoul shares open lower on Wall Street losses

An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)
An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap)

South Korean stocks opened lower Thursday, tracking overnight losses on Wall Street amid concerns about fast-growing inflation.

The benchmark Korea Composite Stock Price Index fell 7.77 points, or 0.33 percent, to trade at 2,320.84 in the first 15 minutes of trading.

Overnight, US stocks dropped as the estimate-beating consumer price index for June fanned worries that the Federal Reserve can accelerate its rate hike moves. The Dow Jones Industrial Average declined 0.67 percent, and the tech-heavy Nasdaq composite slipped 0.15 percent.

In Seoul, market behemoth Samsung Electronics slid 0.17 percent, with No. 2 chipmaker SK hynix losing 0.53 percent.

Battery giant LG Energy Solution added 0.5 percent, while bio heavyweight Samsung Biologics declined 1.32 percent.

The local currency was trading at 1,307.35 won against the US dollar, down 0.45 won from the previous session's close. (Yonhap)

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