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Seoul stocks open lower on US losses

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap)
South Korean stocks opened lower Thursday, tracking overnight losses on Wall Street, with tech and chemical shares weighing on the market.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 11.76 points, or 0.4 percent, to 2,950.66 in the first 15 minutes of trading.

The Dow Jones Industrial Average retreated 0.58 percent, and the tech-heavy Nasdaq composite declined 0.33 percent amid concerns about the growing inflation pressure.

The Korean stock market opened at 10 a.m., one hour later than the usual, due to the national college entrance exam.

Market bellwether Samsung Electronics traded flat, No. 2 chipmaker SK hynix lost 0.9 percent, and pharmaceutical giant Samsung Biologics decreased 1.18 percent.

Hyundai Motor, the country's largest carmaker, moved down 0.72 percent, and electric car battery maker LG Chem fell 0.91 percent. Banking heavyweight Kakao Bank advanced 0.79 percent.

The local currency was trading at 1,182.6 won against the US dollar, down 0.1 won from the previous session's close. (Yonhap)
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