Seoul: South Korean stocks opened lower Thursday, despite overnight U.S. gains. The benchmark Korea Composite Stock Price Index (KOSPI) lost 29.24 points, or 0.72 percent, to 4,007.06 in the first 15 minutes of trading.

According to Yonhap News Agency, overnight, Wall Street closed higher on hopes that the Federal Reserve will cut interest rates next week. The S and P 500 added 0.3 percent, and the Dow Jones Industrial Average was up 0.86 percent while the tech-heavy Nasdaq composite was 0.17 percent higher.

In Seoul, most large-cap shares traded lower. Chip giant Samsung Electronics decreased 0.77 percent, and its chip rival SK hynix lost 2.9 percent. Leading battery maker LG Energy Solution shed 0.48 percent and defense giant Hanwha Aerospace decreased 0.69 percent.

In contrast, carmakers were among the gainers, with No. 1 automaker Hyundai Motor jumping 3.38 percent and Kia adding 0.17 percent. The local currency was trading at 1,466.4 won against the greenback as of 9:15 a.m., up 1.6 won from the previous session's close.