South Korean stocks opened lower Wednesday as investor sentiment was dented by overnight falls in U.S. stock markets.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.07 points, or 0.26 percent, to 1,537.34 in the first 15 minutes of trading.
Tech shares and shipbuilders got off to a weak start. Market leader Samsung Electronics and Hyundai Heavy Industries, the world's largest shipbuilder, both lost ground.
But top lender Kookmin Bank gained 0.49 percent on a report that the National Pension Service, the state pension agency and the largest single shareholder of the lender, has consented to Kookmin Bank's plan to set up a holding company, brightening the bank's prospects of launching a financial services firm.
U.S. stocks closed sharply lower Tuesday as investor sentiment soured on a jump in the country's producer prices and lingering concerns over financial jitters. The Dow Jones industrial average fell 1.14 percent and the tech-dominated Nasdaq composite index shed 1.35 percent.
America's financial woes also threatened to pull down the tech-savvy Kosdaq market below 500 points. The Kosdaq index was at 503.52 as of 10 a.m., down 0.84 percent from Tuesday's close.
After opening at 1,051.80 won, the Korean currency was trading at 1,049.30 won to the U.S. dollar as of 9:15 a.m., up 0.1 won from Tuesday's close. It was the first time in 32 sessions that the won has touched the 1,050-won level against the dollar.