An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)

South Korean stocks started lower Wednesday, tracking overnight losses on Wall Street, amid lingering valuation concerns and ahead of key economic data releases.

The benchmark Korea Composite Stock Price Index fell 45.42 points, or 1.15 percent, to 3,908.2 in the first 15 minutes of trading.

Institutions were net sellers, offsetting net purchases by foreign and retail investors.

Overnight, US stocks fell as concerns about an artificial intelligence bubble persisted and investors took a wait-and-see posture ahead of a job report.

The Dow Jones Industrial Average dropped 1.07 percent, while the tech-heavy Nasdaq composite slipped 1.21 percent.

In Seoul, most top-cap shares lost ground, with tech shares under heavy downward pressure.

Market bellwether Samsung Electronics fell 1.94, while chip giant SK hynix sank 2.11 percent.

Leading battery maker LG Energy Solution slid 1.47 percent, and nuclear power plant builder Doosan Enerbility lost 1.19 percent.

Leading shipbuilder HD Hyundai Heavy dropped 3.81 percent, and its rival Hanwha Ocean skidded 3.21 percent.

Leading financial group KB Financial retreated 0.41 percent, while internet portal operator Naver retreated 1.21 percent.

But automakers opened higher. Top automaker Hyundai Motor edged up 0.38 percent, and its sister affiliate Kia advanced 0.68 percent.

The local currency was trading at 1,463.5 won against the greenback at 9:15 a.m., up 1.8 won from the previous session. (Yonhap)