SEOUL: South Korean stocks got off to a lackluster start on Wednesday as investors stepped to the sidelines to digest Wall Street’s continued losses and China’s surprise rate cut, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) slipped 0.45 point, or 0.02 percent, to 1,846.18 in the first 15 minutes of trading.
Market heavyweights were mixed. Samsung Electronics and Shinhan Financial Group each fell 1.48 percent and 2.11 percent each.
But key automakers outperformed the KOSPI, with Hyundai Motor and Kia Motors adding 1.69 percent and 2.73 percent, respectively.
The local currency was trading at 1,1909.9 won against the U.S. dollar, up 4.4 won from Tuesday’s close.
