Seoul shares opened lower Tuesday as investors are concerned about possible additional rate hikes by the US Federal Reserve and a possible economic slowdown.

The benchmark Korea Composite Stock Price Index fell 5.87 points, or 0.23 percent, to 2,570.04 in the first 15 minutes of trading.

The Kospi bucked overnight gains on Wall Street. The Dow Jones Industrial Average rose 0.3 percent and the tech-heavy Nasdaq Composite also climbed 0.28 percent.

This week, investors are awaiting the release of the Federal Reserve's Beige Book and commentary from Fed officials as there might be at least one more rate hike by the US central bank to tame inflation.

In Seoul, most large-cap stocks declined.

Top carmaker Hyundai Motor Co. fell 1.7 percent, national flag carrier Korean Air Co. declined 0.6 percent, and leading car battery maker LG Energy Solution shed 0.3 percent.

Among gainers, market bellwether Samsung Electronics Co. rose 0.8 percent, LG Display Co. climbed 4.3 percent, and leading chemical firm LG Chem Ltd. gained 1.9 percent.

The local currency was trading at 1,320.55 won against the US dollar, down 9.45 won from the previous session's close. (Yonhap)