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Seoul stocks open lower on US inflation concerns

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Tuesday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Tuesday. (Yonhap)
South Korean stocks opened lower Tuesday, tracking overnight losses on Wall Street that stemmed from inflation concerns.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 20.28 points, or 0.66 percent, to 3,059.47 points in the first 15 minutes of trading.

Overnight, the Nasdaq dipped 2.46 percent as tech stocks, sensitive to high inflation, retreated.

In Seoul, top cap Samsung Electronics retreated 0.61 percent, and No. 2 chipmaker SK hynix shed 1.47 percent.

Top automaker Hyundai Motor moved down 0.62 percent, with giant internet portal operator Naver declining 0.78 percent. Leading chemical firm LG Chem went down 1.86 percent.

Pharmaceutical giant Samsung Biologics dropped 1.28 percent, and Celltrion lost 1.13 percent.

The local currency was trading at 1,111.4 won against the US dollar, down 1 won from the previous session's close. (Yonhap)
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