SEOUL: South Korean stocks opened slightly lower on Tuesday as investors remained wary of the U.S. Fed’s possible decision to raise its key interest rate, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 2.34 points, or 0.12 percent, to 1,929.12 in the first 15 minutes of trading.
Large caps started mixed with tech and steel shares among the laggards. Chipmaking giant SK hynix and No. 1 steelmaker POSCO traded 1 percent and 1.32 percent lower, respectively.
Samsung C&T, a fashion and construction arm of Samsung Group, fell more than 2 percent on its first trading day after it merged with Cheil Industries, another Samsung affiliate.
Automakers opened strong. Hyundai Motor and its smaller affiliate, Kia Motors, gained 1.62 percent and 1.38 percent.
The local currency was trading at 1,180.15 won against the U.S. dollar as of 9:15 a.m., up 2.95 won from Monday’s close.
