South Korean stocks opened lower Wednesday as investors tracked overnight losses on Wall Street caused by rising bond yields amid inflation concerns.
After starting 0.72 percent higher, the benchmark Korea Composite Stock Price Index went down 141.07 points, or 1.94 percent, to 7,130.59 as of 9:15 a.m.
Most market heavyweights in Seoul traded lower. Top-cap Samsung Electronics started 0.18 percent lower, and its chipmaking rival SK hynix lost 2.29 percent. Top automaker Hyundai Motor shed 3.48 percent, and its smaller affiliate Kia declined 2.91 percent.
The Korean won was trading at 1,512.3 won against the US dollar at 9:15 a.m., down 4.5 won from the previous session. After briefly surpassing the 8,000-point mark Friday, the KOSPI has experienced heightened volatility amid extended foreign sell-offs of top-cap technology shares.
