Seoul shares open lower on profit-taking

SEOUL, South Korean stocks opened lower Wednesday as investors sought profits. The benchmark Korea Composite Stock Price Index fell 12.29 points, or 0.5 percent, to 2,466.32 in the first 15 minutes of trading. Overnight, the Dow Jones Industrial Average closed 0.25 percent lower as investors cashed in profits, while the tech-heavy Nasdaq added 0.43 percent. In Seoul, top tech giant Samsung Electronics moved down 1.2 percent, and No. 2 chipmaker SK hynix shed 1.21 percent. Leading carmaker Hyundai Motor moved down 0.7 percent, and its sister Kia Motors lost 1.02 percent. Auto parts maker Hyundai Mobis decreased 1.46 percent. POSCO International, a major trading firm, meanwhile, shot up 4.96 percent. The local currency was trading at 1,338.4 won against the U.S. dollar, down 5 won from the previous session's close. Source: Yonhap News Agency