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Seoul stocks open nearly flat as investors eye Fed meeting

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Monday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Monday. (Yonhap)
South Korean stocks opened nearly flat Monday as investors await the upcoming US Federal Reserve meeting.

The benchmark Korea Composite Stock Price Index (Kospi) edged down 1.53 points, or 0.05 percent, to reach 3,247.79 points in the first 15 minutes of trading.

The Kospi got off to a muted start as investors are holding onto their cash, seeking more hints about when the world's largest economy will start tapering its asset-buying policy.

In Seoul, market bellwether Samsung Electronics retreated 0.37 percent, and No. 2 chipmaker SK hynix shed 1.56 percent.

Internet portal operator Naver advanced 2.82 percent, and giant pharmaceutical firm Samsung Biologics increased 0.71 percent.

Top automaker Hyundai Motor lost 0.63 percent, and leading chemical firm LG Chem decreased 1.53 percent.

The local currency was trading at 1,115.25 won against the US dollar, down 4.45 won from the previous session's close. (Yonhap)
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