SEOUL: South Korean stocks started a whisker lower Tuesday on losses in tech and bank shares, analyst said.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 2.88 points, or 0.15 percent, to 1,955.35 in the first 15 minutes of trading.
Techs led the decline with the world’s largest smartphone maker Samsung Electronics falling 0.58 percent and chipmaker SK hynix slipping 1.16 percent.
No. 1 banking group Shinhan Financial Group edged down 0.12 percent and Hana Financial Group retreated 0.17 percent.
The Bank of Korea will decide the key policy rate later in the day, and is widely expected to freeze the rate at a record low of 2 percent.
Tongyang Life Insurance added 0.43 percent on rumors that it will be acquired by China’s Anbang Insurance Group. It plunged 8.73 percent on the previous session.
The local currency was trading at 1,099.75 won against the U.S. dollar, up 2.65 won from Monday’s close.
