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Seoul shares open nearly flat amid stalled US stimulus talks

(Yonhap)
(Yonhap)
South Korean shares opened nearly flat Tuesday amid slower-than-expected progress in the new US stimulus talks.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.3 points, or 0.06 percent, to 2,348.04 in the first 15 minutes of trading.

Investor sentiment remained risk-averse as negotiations for the fresh US stimulus scheme are showing meaningful progress.

The Dow Jones Industrial Average fell 1.44 percent to 28,195 on Monday (New York time). The tech-heavy Nasdaq composite index dropped 1.65 percent and the S&P 500 dipped 1.63 percent.

In Seoul, most large caps traded mixed.

Market kingpin Samsung Electronics added 0.67 percent. Trading of No. 2 chipmaker SK hynix, which said it has agreed to buy a memory chip unit from US semiconductor giant Intel Corp., was halted.

Leading chemical firm LG Chem rose 1.14 percent, and rechargeable battery maker Samsung SDI gained 0.97 percent.

Hyundai Motor, the country's largest automaker, dipped 3.87 percent.

Pharmaceutical giant Samsung Biologics edged up 0.29 percent, while Celltrion was down 1.96 percent.

Internet portal giant Naver lost 0.52 percent, but top steelmaker Posco gained 0.48 percent.

The local currency was trading at 1,140.8 won against the dollar, up 1.2 won from the previous session's close. (Yonhap)
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