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S. Korean stocks remain flat in late morning trade

All Headlines 11:27 August 25, 2016

SEOUL, Aug. 25 (Yonhap) -- South Korean shares remained nearly flat on late Thursday morning as investors took to the sidelines amid an apparent lack of leads.

The benchmark Korea Composite Stock Price Index (KOSPI) stood at 2,043.98 as of 11:20 a.m., inching up 0.22 point or 0.01 percent from the previous session's close.

The index opened slightly lower following overnight losses on Wall Street.

The Dow Jones industrial average slipped 0.35 percent to close at 18,481.48, with the tech-heavy Nasdaq plunging 0.81 percent to 5,217.69.

Investors were apparently spooked by an earlier report that U.S. stockpiles of crude jumped by nearly 4.5 million barrels last week, causing global oil prices to plunge.

On Wednesday, the price of Dubai crude, South Korea's benchmark, tumbled 3.14 percent to US$45.38 per barrel.

Market bellwether Samsung Electronics slipped 0.06 percent, with top automaker Hyundai Motor shedding 0.37 percent.

Global steelmaker POSCO added 0.45 percent, while leading cosmetics maker LG Household & Health Care plunged 3.21 percent.

The local currency was trading at 1,119.70 won against the U.S. dollar, up 2.30 won from the previous session's close.

bdk@yna.co.kr
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