Seoul shares start lower despite U.S. gains

SEOUL, South Korean stocks opened slightly lower Tuesday despite overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) lost 7.76 points, or 0.28 percent, to 2,796.55 in the first 15 minutes of trading. Overnight, Wall Street closed slightly higher, while investors awaited U.S. labor market data and the Federal Reserve minutes due later this week to seek clues about the interest rate outlook. The Dow Jones Industrial Average rose 0.13 percent, and the tech-heavy Nasdaq went up 0.8 percent. In Seoul, most shares started in negative territory. Top carmaker Hyundai Motor fell 1.05 percent, and leading battery maker LG Energy Solution retreated 0.29 percent. Major oil refinery SK Innovation decreased 1.82 percent, and flat screen maker LG Display declined 1.13 percent. But chipmaking giants Samsung Electronics and SK hynix rose 0.61 and 0.21 percent, respectively. The local currency was trading at 1,383.55 won against the U.S. dollar, down 4.25 won from the previous sessi on's close. Source: Yonhap News Agency