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Seoul shares down 0.25 pct in late morning trade

All News 11:32 January 19, 2016

SEOUL, Jan. 19 (Yonhap) -- South Korean stocks traded 0.25 percent lower late Tuesday morning amid growing woes over China's economy, the top export market for Asia's No. 4 economy.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 4.64 points to 1,873.81 as of 11:20 a.m.

Carmakers continued to trade weak, with Hyundai Motor falling 0.72 percent and its auto parts affiliate Hyundai Mobis losing 1.24 percent. Kia Motors, in contrast, edged up 0.21 percent.

Logistics also traded bearish, with Hyundai Glovis moving down 0.78 percent and top air carrier Korean Air losing 2.61 percent. Jeju Air, a budget carrier, plunged 7.83 percent.

China said Tuesday its fourth-quarter gross domestic product growth for 2015 edged up 6.8 percent on-year, marking the lowest rate since the first quarter of 2009.

The local currency was trading at 1,212.50 won against the U.S. dollar as of 11:20 a.m., down 1.6 won from the previous session's close.


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