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Seoul stocks open lower on Wall Street losses

Stock market in South Korea (Yonhap)
Stock market in South Korea (Yonhap)
South Korean stocks opened lower Tuesday, tracking overnight losses on Wall Street over the resurgence of the new coronavirus and its delta variant.

The benchmark Korea Composite Stock Price Index (Kospi) fell 4.68 points, or 0.14 percent, to 3,255.74 points in the first 15 minutes of trading.

Stocks retreated amid concerns that the highly contagious delta variant may hamper the ailing global economy.

The Dow Jones Industrial Average declined 0.3 percent, with the S&P 500 slipping 0.09 percent. The tech-heavy Nasdaq Composite edged up 0.16 percent.

In Seoul, market kingpin Samsung Electronics shed 0.49 percent, and No. 2 chipmaker SK hynix retreated 1.72 percent.

Internet portal giant Naver inched up 0.22 percent, while leading carmaker Hyundai Motor lost 0.68 percent. Giant chemical maker LG Chem gained 0.59 percent.

Top pharmaceutical firm Samsung Biologics jumped 2.75 percent. Game developer Krafton advanced 0.56 percent on its first day of trading.

The local currency was trading at 1,147.35 won to the U.S. dollar, down 3.05 won from the previous session's close. (Yonhap)
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