SEOUL: South Korean stocks got off to a weak start Thursday, tracking overnight losses in U.S. peers, analysts said.
The Korea Composite Stock Price Index (KOSPI) fell 12.42 points, or 0.59 percent, to trade at 2,092.16 in the first 15 minutes of trading.
Shares lost ground across the board, with large-cap Cheil Industries, a key unit of Samsung Group, plummeting more than 9 percent. Top mobile carrier SK Telecom also slumped 4 percent.
The U.S. markets closed lower on Wednesday after Federal Reserve Chair Janet Yellen warned of high equity valuations that can pose risks. Her remarks stirred again jitters about a rate hike.
In contrast, top market cap Samsung Electronics was up 0.6 percent and Hyundai Mobis, the auto parts-making arm of Hyundai Motor, also gained 0.5 percent.
The local currency was trading at 1,081.55 won against the U.S. dollar as of 9:15 a.m., down 1.6 won from Wednesday’s close.
