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Seoul shares trim earlier gains in late morning trading

All Headlines 11:27 December 07, 2018

SEOUL, Dec. 7 (Yonhap) -- Seoul shares erased earlier gains late Friday morning as investors remained skeptical about the outcome of a 90-day trade deal between the United States and China.

The benchmark Korea Composite Stock Price Index (KOSPI) was up 5.99 points, or 0.29 percent, to 2,074.68 as of 11:20 a.m.

Foreigners and institutions sold a combined 27 billion won (US$24 million) worth of stocks. Individuals bought a net 33 billion won stocks, supporting the main index.

Tech, auto and steel stocks led gains, with market bellwether Samsung Electronics Co. rising 1.48 percent, top carmaker Hyundai Motor Co. gaining 0.45 percent, and leading steelmaker POSCO gaining 0.20 percent.

Among decliners, leading wireless services provider SK Telecom Co. fell 1.22 percent and No. 1 refiner SK Innovation Co. declined 1.31 percent.

The South Korean currency was trading at 1,118.30 won against the U.S. dollar as of 11:20 a.m., up 2.0 won from the previous session's close.
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