South Korean stocks opened slightly lower Wednesday as investors remained cautious over the Federal Reserve’s rate decision later this week.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.17 points, or 0.23 percent, to 2,631.78 in the first 15 minutes of trading.
Overnight, the Dow Jones Industrial Average rose 0.43 percent and the Nasdaq gained 0.83 percent as a modest rise in April inflation fueled hopes for the Fed’s rate pause.
In Seoul, most shares traded mixed.
Market bellwether Samsung Electronics dropped 0.97 percent, but LG Electronics gained 0.72 percent.
Leading refinery SK Innovation lost 0.65 percent, but major battery maker LG Energy & Solution climbed 0.33 percent.
The local currency was trading at 1,273.1 won against the U.S. dollar at 9:15 a.m., down 1.7 won from the previous session’s close.
Source: Yonhap News Agency