Stocks open nearly flat Wednesday amid earnings reports, woes over rate hikes

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Stocks open nearly flat Wednesday amid earnings reports, woes over rate hikes

Electronic display boards at Hana Bank in central Seoul show stock and foreign exchange markets Wednesday morning. [YONHAP]

Electronic display boards at Hana Bank in central Seoul show stock and foreign exchange markets Wednesday morning. [YONHAP]

 
Stocks opened nearly flat Wednesday as investors took to the sidelines amid earnings reports and woes over aggressive rate hikes.
 
The benchmark Kospi had inched up 0.49 points, or 0.02 percent, to 2,250.44 points as of 9:20 a.m.
 
Auto and steel companies advanced, while chemical and financial shares declined.
 
Samsung Electronics traded flat, and SK hynix lost 1.67 percent.
 
Hyundai Motor added 0.3 percent, and Posco grew 0.2 percent.
 
LG Chem went down 2.95 percent, while LG Energy Solutions increased 0.72 percent.
 
Kakao gained 1.82 percent.
 
The won was exchanging hands at 1,423.1 won against the dollar as of 9:20 a.m., down 0.4 won from the previous session's close.

BY CHO JUNG-WOO, YONHAP [cho.jungwoo1@joongang.co.kr]
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