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S. Korean stocks down in late Thursday morning

All News 11:24 September 08, 2016

SEOUL, Sept. 8 (Yonhap) -- South Korean stocks traded lower late Thursday morning, as investors attempted to cash in recent gains amid speculation that the U.S. Federal Reserve may hold off raising its interest rates.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 6.7 points, or 0.32 percent, to 2,055.18 as of 11:20 a.m.

U.S. stocks closed mixed on Wednesday, with the tech-laden Nasdaq Composite reaching a new record high, while the Dow Jones industrial average edged down.

Top market cap Samsung Electronics rose 0.25 percent, and major chipmaker SK hynix was up 1.45 percent.

Naver, the country's top portal operator, shed 2.29 percent.

Hyundai Motor, the country's top automaker, fell 1.44 percent while its smaller affiliate Kia Motors rose 1.17 percent.

The South Korean won was trading at 1,091.30 won against the U.S. greenback, down 1.3 won from the previous session's close.


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