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Seoul stocks open lower on tech losses

An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)
An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)

South Korean stocks opened lower Wednesday, despite overnight gains on Wall Street, as large-cap tech shares lost ground on profit-taking.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 8.88 points, or 0.33 percent, to reach 2,710.01 in the first 15 minutes of trading.

Overnight, US stocks rose ahead of the corporate earnings season. The Dow Jones Industrial Average climbed 1.45 percent and the tech-heavy Nasdaq Composite Index soared 2.15 percent.

In Seoul, big-cap tech and bio shares led the overall decline following gains a day earlier.

Market bellwether Samsung Electronics lost 0.89 percent, and SK hynix shed 1.33 percent.

Samsung Biologics fell 0.97 percent and Celltrion went down 0.62 percent.

Key battery maker LG Energy Solution decreased 0.23 percent, and top carmaker Hyundai Motor fell 0.28 percent.

The Korean won was trading at 1,239.9 won against the US dollar, down 3 won from the previous session's close. (Yonhap)

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