Seoul stocks open nearly flat ahead of U.S. inflation data release

SEOUL, June 10 (Yonhap) — South Korean stocks opened nearly flat Thursday as investors await the release of U.S. consumer price data that may give clues about the Federal Reserve’s future monetary policy.

The benchmark Korea Composite Stock Price Index (KOSPI) edged down 0.5 points, or 0.02 percent, to reach 3,215.68 points in the first 15 minutes of trading.

The KOSPI got off to muted start as investors take a wait-and-see mode before the U.S. consumer price index (CPI) for May that will be published later in the day (Korean time).

The price gauge is expected to provide hints for the direction of the Fed’s economic diagnosis in the FOMC meeting next week.

In Seoul, market bellwether Samsung Electronics added 0.25 percent, while No. 2 chipmaker SK hynix retreated 0.41 percent.

Internet portal operator Naver advanced 2.37 percent, and giant pharmaceutical firm Samsung Biologics increased 0.36 percent.

Top automaker Hyundai Motor lost 0.42 percent, and leading chemical firm LG Chem decreased 0.5 percent.

The local currency was trading at 1,115.85 won against the U.S. dollar, down 0.45 won from the previous session’s close.

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