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Seoul stocks open lower, tracking Wall Street decline

Stock market in South Korea (Yonhap)
Stock market in South Korea (Yonhap)
South Korean stocks opened lower Wednesday, tracking overnight losses on Wall Street as concerns of inflation weighed down on investor sentiment.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.9 points, or 0.12 percent, to 3,205.53 points in the first 15 minutes of trading.

Overnight, the US Dow Jones Industrial Average slumped 1.36 percent as rising commodity prices fueled worries of inflation.

In Seoul, market behemoth Samsung Electronics shed 0.25 percent, while No. 2 chipmaker SK hynix remained unchanged.

Chemical firm LG Chem declined 1.43 percent, and rechargeable battery maker Samsung SDI fell 0.47 percent.

Internet portal giant Naver retreated 1 percent, while rival Kakao rose 0.44 percent.

Pharmaceutical company Samsung Biologics advanced 5.14 percent, while Celltrion moved down 0.37 percent.

Leading carmaker Hyundai Motor gained 2.43 percent.

The local currency was trading at 1,121.7 won to the US dollar, down 2.1 won from the previous session's close. (Yonhap)