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Stocks open nearly flat ahead of Q2 earnings reports

South Korean stocks opened nearly flat Monday as investors took a wait-and-see approach on local firms' second-quarter earnings reports set to be released throughout this month.

The benchmark Korea Composite Stock Price Index added 1.42 points, or 0.06 percent, to 2,318,29 in the first 15 minutes of trading.

Carmakers were among major losers, with Hyundai Motor falling 1.32 percent and its sister Kia Motors backtracking 1.21 percent. Top auto parts maker Hyundai Mobis shed 1.43 percent.

In contrast, tech shares traded bullish, with Samsung Electronics gaining 1.13 percent and LG Display climbing 0.82 percent.

The local currency was trading at 1,150.65 won against the US dollar, up 3.65 won from the previous session's close. (Yonhap)