Seoul shares open lower amid earnings concerns

A screen in Hana Bank's trading room in central Seoul shows stock and foreign exchange markets open on Wednesday. [YONHAP]

 
Korean stocks opened lower Wednesday, as concerns over corporate earnings, set to be released starting next week, weighed on investor sentiment.
 
The benchmark Kospi lost 15.37 points, or 0.65 percent, to trade at 2,364.02 in the first 15 minutes of trading.
 
Companies are expected to announce their fourth-quarter earnings results beginning next week, with the market consensus leaning toward lackluster performances in some sectors.
 
Tech heavyweights and financial stocks drove down the Kospi, with Samsung Electronics falling more than 1 percent and battery maker Samsung SDI slipping 1.2 percent.
 
Shinhan Financial dipped more than 2.5 percent, and Hana Financial, also slumped 3 percent.
 
LG Chem, in contrast, gained 0.2 percent, and Naver rose 0.3 percent.
 
The local currency was trading at 1,238.10 won against the dollar, down 0.6 won from Tuesday's close.

Yonhap