S. Korean stocks almost flat late Wednesday morning

SEOUL, July 5 (Yonhap) -- South Korean stocks traded almost flat late Wednesday morning, as investors took to the sidelines amid increased tension on the Korean Peninsula following North Korea's ICBM launch.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 0.40 point, or 0.02 percent, to 2,380.12 as of 11:15 a.m.

Market kingpin Samsung Electronics rose 0.47 percent, and SK hynix, a major chipmaker, jumped 1.52 percent.

In contrast, Hyundai Motor, the No. 1 automaker, continued to lose ground, falling 1.89 percent, and its smaller affiliate Kia Motors shed 0.13 percent.

Top steelmaker POSCO gained 0.86 percent, and the state-run Korea Electric Power Corp. advanced 2.03 percent.

The local currency was trading at 1,148.35 won against the U.S. dollar, up 1.95 won from the previous session's close.

sam@yna.co.kr
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