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Seoul shares extend losses in late morning trading

All News 11:39 December 04, 2018

SEOUL, Dec. 4 (Yonhap) -- South Korea's main bourse extended losses late Tuesday morning as investors offloaded more tech, auto and steel shares.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 13.43 points, or 0.63 percent, to 2,118.50 as of 11:20 a.m.

The main index turned lower after closing 1.67 percent higher at 2,131.93 on Monday as the United States and China reached a cease-fire agreement on additional tariffs on their products.

Foreigners and institutions sold a combined 115 billion won (US$103 million) worth of stocks. Individuals bought a net 110 billion won worth of stocks.

Large-cap stocks declined across the board.

Market bellwether Samsung Electronics Co. fell 2.43 percent, No. 2 chipmaker SK hynix Inc. shed 2.27 percent, top carmaker Hyundai Motor Co. declined 1.38 percent and leading steelmaker POSCO was down 1.16 percent.

Among gainers, the state-run utility Korea Electric Power Corp. rose 2.52 percent, and the dominant tobacco company KT&G Corp. climbed 0.97 percent.

The South Korean currency was trading at 1,111.50 won against the U.S. dollar as of 11:20 a.m., down 8.80 won from the previous session's close.


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