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S. Korean shares down 0.24 pct in late morning trade

All Headlines 11:29 August 26, 2016

SEOUL, Aug. 26 (Yonhap) -- South Korean shares were down 0.24 percent late Friday morning as foreign investors extended their selling streak to a third consecutive session.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 4.95 points to 2,037.97 as of 11:20 a.m.

The index opened sharply lower following overnight losses on Wall Street. The Dow Jones Industrial Average closed 0.18 percent lower at 18,448.41 on Thursday, with the tech-laden Nasdaq also slipping 0.11 percent to 5,212.20.

Foreigners offloaded a net 73.4 billion won (US$65.96 million) as of 11:20 a.m., while institutions and retail investors purchased 61.5 billion won and 13.38 billion won, respectively.

Large caps traded mixed.

Market bellwether Samsung Electronics plunged 1.34 percent, while local industry leader Hyundai Motor slipped 0.37 percent.

Top portal operator Naver, on the other hand, gained 0.12 percent, with top life insurer Samsung Life Insurance spiking 1.47 percent.

The local currency was trading at 1,113.40 won against the U.S. dollar, up 2.50 won from Thursday's close.

bdk@yna.co.kr
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