Published : Nov. 11, 2021 - 09:43
(Yonhap)
South Korean stocks opened lower Thursday, taking a cue from the estimate-beating inflation data in the United States that fanned concerns about faster than expected rate hikes.
The benchmark Korea Composite Stock Price Index (Kospi) decreased 15.85 points, or 0.54 percent, to 2,914.32 in the first 15 minutes of trading.
The key stock index retreated as US consumer prices grew at the fastest pace since 1990.
Overnight, the tech-heavy Nasdaq composite plunged 1.66 percent, and the Dow Jones Industrial Average lost 0.66 percent amid worries the high price pressure may advance the Federal Reserve's timeline to raise its key rates.
In Seoul, market bellwether Samsung Electronics lost 0.43 percent, and No. 2 chipmaker SK hynix shed 1.84 percent.
Internet portal operator Naver fell 1.93 percent, top carmaker Hyundai Motor moved down 1.44 percent, and pharmaceutical giant Samsung Biologics declined 0.61 percent.
Among gainers, leading car battery firm LG Chem added 2.84 percent.
The local currency was trading at 1,184.65 won against the US dollar, down 3.75 won from the previous session's close. (Yonhap)