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Seoul stocks open lower on profit-taking

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 as investors attempted to cash in gains from the recent rally.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.66 points, or 0.16 percent, to 2,994.86 points in the first 15 minutes of trading.

The KOSPI got off to a lackluster start amid losses in tech and auto heavyweights.

Overnight, the tech-heavy Nasdaq composite and the Dow Jones Industrial Average both retreated 0.04 percent amid lingering inflation concerns.

Top cap Samsung Electronics and internet portal operator Naver traded flat, and No. 2 chipmaker SK hynix lost 0.9 percent.

Top automaker Hyundai Motor declined 0.96 percent, with its smaller affiliate Kia decreasing 2.08 percent.

Among gainers, leading chemical firm LG Chem advanced 1.57 percent, and pharmaceutical giant Samsung Biologics edged up 0.12 percent.

The local currency was trading at 1,182.6 won against the US dollar, down 4.2 won from the previous session's close. (Yonhap)

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