South Korean stocks started lower on Wednesday as investor sentiment turned downbeat on a drop in oil prices and weak Chinese economic data.
The benchmark Korea Composite Stock Price Index shed 5.51 points, or 0.28 percent, to 1,940.61 in the first 15 minutes of trading.
An investor monitors South Korean share prices displayed on an electronic board at the Korea Exchange in Seoul. (Yonhap)
The index soon picked up, trading almost flat at 1946.85 points as of 10:23 a.m.
Market heavyweights across the board retreated as oil prices pulled back on Tuesday from recent rally on profit-taking. Sentiment further slipped following data showing Chinese exports in February fell by the most in more than six years.
Samsung Electronics fell 1.09 percent, and leading automaker Hyundai Motor declined 0.34 percent. S-Oil, the nation’s third-largest refiner, edged down 0.35 percent.
The local currency was trading at 1,213.0 won against the U.S. dollar, down 6.3 won from the previous session’s close.
(khnews@heraldcorp.com)