Seoul shares open nearly flat ahead of BOK rate decision

South Korean shares opened nearly flat Thursday as the country's central bank was set to hold a rate setting meeting later in the day. The benchmark Korea Composite Stock Price Index (KOSPI) added 1.16 points, or 0.05 percent, to 2,543.14 in the first 15 minutes of trading. The Bank of Korea was scheduled to hold its monetary policy meeting later in the day, where it was widely expected to keep its key rate frozen for the eighth consecutive time. Investors are also awaiting the release of the U.S. inflation data for December due this week, which will provide a clue for the Federal Reserve's rate policy. Large caps traded mixed. Market bellwether Samsung Electronics lost 0.82 percent, while leading battery maker LG Energy Solution added 1.10 percent. Top Internet portal operator Naver slipped 0.43 percent, with No. 2 chipmaker SK hynix losing 0.22 percent. Leading automaker Hyundai Motor gained 0.32 percent, and its smaller affiliate Kia Motors advanced 0.44 percent. The local currency was trading at 1,319.45 won against the U.S. dollar, up 0.65 won from the previous session's close. Source: Yonhap News Agency