An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Yonhap) South Korean stocks opened lower Thursday, as investors dumped most blue chips following overnight losses on Wall Street.
The benchmark Korea Composite Stock Price Index shed 16.14 points, or 0.61 percent, to 2,609.44 in the first 15 minutes of trading.
Overnight, US stocks closed lower amid concerns that US President Donald Trump’s push for large-scale tax cuts would widen the federal deficit, driving up Treasury yields.
The Dow Jones Industrial Average fell 1.9 percent, and the S&P 500 dropped 1.6 percent. The tech-heavy Nasdaq composite slumped 1.3 percent.
In Seoul, most blue chips traded in negative territory.
Market heavyweight Samsung Electronics and chip rival SK hynix fell 0.9 percent and 0.3 percent, respectively, while leading battery manufacturer LG Energy Solution dropped 0.72 percent.
Automotive and heavy industry shares also retreated. Hyundai Motor fell 1.7 percent, and top defense systems manufacturer Hanwha Aerospace plummeted 1.55 percent.
The local currency was trading at 1,374.35 won against the greenback at 9:15 a.m., surging 12.85 won from the previous session. (Yonhap)