Seoul shares open lower ahead of U.S. inflation data

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

Stocks opened lower Monday ahead of the release of the United States' key inflation data later this week.

The benchmark Kospi shed 17.42 points, or 0.71 percent, to 2,452.31 in the first 15 minutes of trading.

Investors are awaiting the U.S.' Consumer Price Index (CPI) report for January due out on Tuesday, which will set the tone for the Federal Reserve's monetary tightening path.

Fed Chair Jerome Powell said last week that disinflation has started, but it has "a long way to go."

On Friday, U.S. shares ended mixed amid uncertainty over future rate hikes. The Dow Jones Industrial Average rose 0.5 percent, while the tech-heavy Nasdaq Composite fell 0.61 percent.

In Seoul, most top-cap shares opened lower, with tech shares under heavy downward pressure.

Samsung Electronics fell 0.16 percent, and chipmaker SK hynix sank 2.99 percent.

Battery maker LG Energy Solution dived 2.4 percent, and Samsung SDI tumbled 2.18 percent.

Bio shares also lost ground, with Samsung Biologics losing 0.37 percent and Celltrion falling 0.99 percent.

But carmakers rose. Automaker Hyundai Motor inched up 0.06 percent, and its affiliate Kia added 0.14 percent.

Among gainers, LG Chem grew 0.3 percent, and SK Innovation rose 1.55 percent.

The local currency was trading at 1,269.30 won against the dollar as of 9:15 a.m., up 4.1 won from the previous session's close.

Yonhap