Seoul stocks open nearly flat on valuation pressure

South Korean stocks opened nearly flat Friday on valuation pressure after they hit another new high the previous session.

   The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.34 point, or 0.01 percent, to 3,161.18 points in the first 15 minutes of trading.

   Market bellwether Samsung Electronics added 0.34 percent, while No. 2 chipmaker SK hynix lost 0.76 percent.

   Leading chemical firm LG Chem moved down 0.3 percent, but rechargeable battery maker Samsung SDI advanced 1.21 percent.

   Pharmaceutical giant Celltrion fell 0.48 percent, and leading automaker Hyundai Motor declined 1.7 percent.

   Internet portal giant Naver hiked 2.95 percent, with its rival Kakao stepping up 0.88 percent.

   The local currency was trading at 1,101.2 won against the U.S. dollar, down 3.0 won from the previous session's close.