S. Korean shares stay flat in late morning trade

SEOUL, Feb. 29 (Yonhap) -- South Korean shares remained almost flat late Monday morning as investors sat on the sidelines amid the rising possibility of a rate hike in the United States.

The benchmark Korea Composite Stock Price Index (KOSPI) inched up 0.56 point, or 0.03 percent, to 1,920.72 as of 11:20 a.m.

Carmakers traded bearish, with No. 1 Hyundai Motor remaining unchanged and Kia Motors moving down 1.91 percent. Top auto parts maker Hyundai Mobis slid 2.14 percent.

Market top behemoth Samsung Electronics advanced 1.28 percent,

Steel makers also traded mixed, with POSCO moving up 1.28 percent while Korea Zinc lost 0.66 percent. Hyundai Steel rose 1.27 percent.

The local currency was changing hands at 1,242.10 won against the greenback, down 3.9 won from Friday's close.

colin@yna.co.kr
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