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Seoul stocks trade lower on Wall Street losses

Stocks 11:30 January 12, 2021

SEOUL, Jan. 12 (Yonhap) -- South Korean stocks traded lower late Tuesday morning, tracking overnight Wall Street losses as investors took a breather from last week's rally.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 15.9 points, or 0.51 percent, to 3,132.55 as of 11:20 a.m.

Stocks got off to a weak start after an overnight slump on Wall Street amid growing calls in Washington to impeach U.S. President Donald Trump and concerns of new regulations against tech companies under the incoming Biden administration.

Market bellwether Samsung Electronics lost 0.88 percent, and No. 2 chipmaker SK hynix skid 2.63 percent.

Internet portal Naver slipped 2.43 percent, and rival Kakao fell 0.55 percent.

Leading chemical firm LG Chem retreated 2 percent, while rechargeable battery maker Samsung SDI added 0.14 percent.

Pharmaceutical firm Samsung Biologics fell 2.36 percent, while Celltrion rose 0.94 percent.

Top automaker Hyundai Motor remained unchanged.

The local currency was trading at 1,100 won against the U.S. dollar, down 2.7 won from the previous session's close.


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