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Seoul stocks open slightly lower amid inflation uncertainties

An electronic board displays the closing mark of South Korea’s benchmark Kospi at Hana Bank headquarters in Seoul, Tuesday. (Yonhap)
An electronic board displays the closing mark of South Korea’s benchmark Kospi at Hana Bank headquarters in Seoul, Tuesday. (Yonhap)
South Korean stocks opened a tad lower Tuesday, weighed down by persistent inflation woes at home and in the United States.

The benchmark Korea Composite Stock Price Index (Kospi) edged up 1.08 points, or 0.04 percent, to 2,973.56 points in the first 15 minutes of trading.

Stocks came off to a lackluster start after the key stock index retreated for the previous three straight sessions amid jitters over the US Federal Reserve's faster-than-anticipated tapering and rate hikes to tame inflation. The Bank of Korea's rate hike last week also weighed on investor sentiment.

Market bellwether Samsung Electronics slipped 0.26 percent, and No. 2 chipmaker SK hynix decreased 1.18 percent.

Internet portal operator Naver edged up 0.15 percent, while leading carmaker Hyundai Motor shed 0.98 percent.

Giant pharmaceutical firm Samsung Biologics lost 1.09 percent, and steelmaker POSCO declined 2.05 percent.

The local currency was trading at 1,190.55 won against the US dollar, up 2.15 won from the previous session's close. (Yonhap)

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