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Seoul stocks down late Mon. morning on China uncertainties

All News 11:35 August 02, 2021

SEOUL, Aug. 2 (Yonhap) -- South Korean stocks trimmed their earlier gains late Monday morning, tracking losses of its Asian peers that stemmed from Chinese regulation uncertainties.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.14 points, or 0.13 percent, to 3,198.18 points as of 11:20 a.m.

Stocks got off to a bullish start as South Korea's July exports jumped 29.6 percent on-year to a record high amid high demand for chips and autos.

The stock index pared its gains in the late morning, however, taking a cue from the overall retreat in the Asian markets, including Hong Kong and China.

The KOSPI retreated below the 3,200-point level as foreign sell-offs increased in the wake of China's move to overhaul its tech firms and property markets.

Top cap Samsung Electronics added 0.51 percent, and No. 2 chipmaker SK hynix advanced 1.78 percent.

Internet portal operator Naver lost 0.81 percent, while pharmaceutical giant Samsung Biologics gained 1.24 percent.

Leading chemical firm LG Chem declined 0.95 percent, with top automaker Hyundai Motor edging down 0.23 percent.

The local currency was trading at 1,153.3 won against the U.S. dollar, down 3 won from the previous session's close.

jwc@yna.co.kr
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