SEOUL: South Korean stocks lowered in early trade on Wednesday, tracking overnight losses on Wall Street, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.81 points, or 0.3 percent, to 1,946.59 in the first 15 minutes of trading.
The Dow Jones Industrial Average slumped 1.65 percent and the tech-focused NASDAQ lost 1.89 percent as lackluster corporate earnings disappointed investors.
Large caps traded in negative territory with market bellwether Samsung Electronics falling 1.29 percent and top life insurer Samsung Life Insurance retreating 2.54 percent.
Kia Motors, the country’s No. 2 carmaker, rose 1.54 percent, poised to snap a five-session losing streak.
The local currency was trading at 1,078.85 won against the U.S. dollar as of 9:15 a.m., up 0.95 won from Tuesday’s close.
