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S. Korean shares down 1 pct in late morning trade

All News 11:26 March 08, 2016

SEOUL, March 8 (Yonhap) -- South Korean shares traded 1.03 percent lower late Tuesday morning on losses in technology, utility and financials.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 20.20 points to 1,937.67 as of 11:20 a.m.

Top market cap Samsung Electronics dropped 2.37 percent, and chipmaker SK hynix sank 4.55 percent.

State-run Korea Electric Power Corp. shed 3.52 percent, and Samsung C&T, the de facto holding firm of top conglomerate Samsung Group, fell 1.31 percent.

In contrast, No. 1 carmaker Hyundai Motor rose 1.02 percent, and POSCO, the top steelmaker, advanced 0.92 percent.

The local currency was changing hands at 1,206.30 won against the greenback, down 4.95 won from the previous session's close.

On Monday, U.S. stocks ended higher, driven by gains in refiners and energy stocks, with the Dow Jones industrial average rising 0.4 percent to 17,073.95 points.


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