Seoul stocks trade lower late morning amid Ukraine uncertainty

SEOUL, March 21 (Yonhap) -- South Korean stocks traded lower late Monday morning, as foreign and institutional investors reduced holdings amid uncertainty over the Ukraine-Russia tensions.

The benchmark Korea Composite Stock Price Index had inched down 7.12 points, or 0.26 percent, to trade at 2,699.9 points as of 11:20 a.m.

The market opened higher but soon turned south before fluctuating throughout the morning as investors took a wait-and-see mode following a three-day gain that stemmed from hopes of progress in the Ukraine-Russia peace talks.

Foreign and institutional sell-offs led the decline.

Market bellwether Samsung Electronics lost 0.42 percent, and No. 2 chipmaker SK hynix retreated 2.02 percent.

Internet portal operator Naver shed 1.45 percent, while bio heavyweight Samsung Biologics advanced 0.48 percent. Battery maker LG Energy Solution added 2.36 percent.

The local currency was trading at 1,213.3 won against the U.S. dollar, down 5.7 won from the previous session's close.

jwc@yna.co.kr
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