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Seoul stocks nearly flat late Mon. morning amid valuation pressure

All News 11:31 April 12, 2021

SEOUL, April 12 (Yonhap) -- South Korean stocks remained little changed late Monday morning, as investors took to the sidelines amid increased valuation pressure.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.07 points, or 0.03 percent, to 3,132.95 points as of 11:20 a.m.

Stocks got off to a muted start after the KOSPI snapped its six-day gaining steak the previous session as valuation pressure increased ahead of the earnings report season.

In Seoul, market kingpin Samsung Electronics lost 0.36 percent, and No. 2 chipmaker SK hynix shed 1.79 percent.

Internet portal giant Naver moved up 0.26 percent, and leading carmaker Hyundai Motor declined 0.66 percent. Mobile messenger operator Kakao was suspended trading for share splitting.

Leading chemical maker LG Chem gained 0.99 percent, while top pharmaceutical firm Samsung Biologics edged down 0.13 percent.

Electric battery maker SK Innovation soared 14.29 percent after settling its legal dispute against LG Energy Solution in the United States.

The local currency was trading at 1,124.9 won to the U.S. dollar as of 11:20 a.m., down 3.7 won from the previous session's close.

jwc@yna.co.kr
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