Shares open lower before Fed minutes

Shares opened lower Wednesday after a mixed close on Wall Street as investors await the release of the U.S. Federal Reserve's minutes for clues on the U.S. central bank's future rate plans.

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets open on Wednesday. [YONHAP]

Shares opened lower Wednesday after a mixed close on Wall Street as investors await the release of the U.S. Federal Reserve's minutes for clues on the U.S. central bank's future rate plans.

The Kospi fell 31.05 points, or 1.2 percent, to 2,638.76 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average inched up 0.07 percent to 37,715.04, but the tech-heavy Nasdaq fell 1.6 percent to 14,765.94.

The Fed's latest minutes are set to become available on Wednesday, and investors expect the bank to cut interest rates this year.

In Seoul, most of the large-cap stocks declined across the board.

Samsung Electronics Co. fell 1.1 percent, SK hynix Inc. declined 1.6 percent, Hyundai Motor dropped 1.2 percent, Korean Air shed 1.5 percent, and LG Energy Solution was down 1.4 percent.

Among gainers, Korea Aerospace Industries rose 0.6 percent, Korea Electric Power Corporation climbed 0.1 percent, and LG Display was up 1.1 percent.

The local currency was trading at 1,309.90 won against the dollar, up 9.5 won from the previous session's close.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]