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S. Korean shares turn lower in late morning trading

All Headlines 11:39 January 08, 2019

SEOUL, Jan. 8 (Yonhap) -- South Korean shares turned lower late Tuesday as retail investors offloaded holdings amid ongoing U.S.-China trade talks.

The benchmark Korea Composite Stock Prices Index fell 0.8 point, or 0.04 percent, to 2,036.30 as of 11:20 a.m.

Individuals sold a net 13 billion won (US$11.6 million) worth of stocks, offsetting 11.5 billion won worth of stock purchases by institutions and foreigners.

Investors are keen to see how the first face-to-face trade negotiations of the year between Washington and Beijing unfold.

Most large-cap stocks declined across the board.

Top carmaker Hyundai Motor Co. fell 0.83 percent, leading steelmaker POSCO declined 0.81 percent and No. 1 wireless services provider SK Telecom Co. was down 1.08 percent.

Among gainers, No. 2 chipmaker SK hynix Inc. rose 2.73 percent, state-run utility Korea Electric Power Corp. climbed 3.81 percent, and leading refiner SK Innovation Co. was up 2.3 percent.

The Korean won traded at 1,121.20 won against the U.S. dollar, down 2.6 won from the previous session's close.

kyongae.choi@yna.co.kr
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