S. Korean shares edge down as Fed flags faster rate hike

SEOUL, Jan. 5 (Yonhap) -- South Korean shares traded lower late Thursday morning, after the U.S. central bankers hinted the possibility of faster rate hikes to fend off higher inflation.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 3.38 points, or 0.17 percent, to 2,042.26 as of 11:20 a.m.

Large caps traded mixed with market kingpin Samsung Electronics falling 1.05 percent, and global chipmaker SK hynix up 1.51 percent.

AmorePacific, the largest cosmetics maker, dipped 0.32 percent.

Top automaker Hyundai Motor fell 0.32 percent, and its smaller affiliate Kia Motors traded 0.97 percent lower.

Naver, the operator of the country's top Internet portal, declined 1.73 percent.

The local currency was trading at 1,194.45 won against the U.S. dollar, up 11.95 won from the previous session's close.
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