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S. Korean shares up in late morning trading

All News 11:33 October 10, 2016

SEOUL, Oct. 10 (Yonhap) -- South Korean shares traded a tad higher late Monday morning.

The benchmark Korea Composite Stock Price Index (KOSPI) added 0.02 percent, or 0.50 point, to 2,054.30 as of 11:20 a.m.

The index opened sharply lower but pared earlier losses on institutional buying.

Market bellwether Samsung Electronics plunged 3.63 percent as investors apparently sought to cash in early gains.

On Friday, Samsung shares closed at a record high of 1,706,000 won, adding 0.89 percent from the previous session's close.

An earlier report that Samsung has temporarily suspended production of its Galaxy Note 7 smartphones currently under a voluntary recall further spooked investor sentiment.

Most other major caps were in positive terrain, with top portal operator Naver spiking 4.27 percent.

Cosmetics giant AmorePacific advanced 1.67 percent, while global steelmaker POSCO added 2.88 percent.

The local currency was trading at 1,113.55 against the U.S. greenback, up 1.95 won from Friday's close.

bdk@yna.co.kr
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