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South Korean stocks opened lower Wednesday, tracking Wall Street’s overnight tech declines emanating from US inflation fears.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 11.46 points, or 0.37 per cent, to 3.058.63 points in the first 15 minutes of trading.

Samsung Electronics withdrew 0.49 per cent, and SK Hynix with No. 2 chipmaker with 0.36 per cent.

Top automaker Hyundai Motor was down 0.2 percent, while Naver’s Internet portal operator was down 1.02 percent. The leading chemical company, LG Chem, added 0.79 percent.

Pharmaceutical corporation Samsung Biologics fell 1.18 percent, while Celltrion lost 0.84 percent.

The local currency was trading at 1,109.6 won against the US dollar, down from 1 won at the end of the previous session.

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