Seoul stocks down late Wednesday morning

SEOUL, Jan. 15 (Yonhap) -- South Korean stocks traded lower Wednesday morning, led by losses in tech stocks and other market heavyweights, on news that an interim Sino-American trade deal does not remove tariffs on Chinese goods.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.58 points, or 0.34 percent, to reach 2,231.3 as of 11:20 a.m.

U.S. tariffs on Chinese goods will remain in place even under the Phase 1 deal, according to reports. The world's two largest economies are set to sign the deal in Washington later in the day.

In Seoul, most large-cap stocks traded lower.

Market kingpin Samsung Electronics lost 1.17 percent, and major chipmaker SK hynix decreased 1.79 percent. Top portal operator Naver was down 0.52 percent.

The local currency was trading at 1,158.9 won against the U.S. dollar, down 2.8 won from Tuesday's close.

khj@yna.co.kr
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