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Seoul stocks down late Thur. morning amid soaring oil prices

All News 11:38 March 24, 2022

SEOUL, March 24 (Yonhap) -- South Korean stocks traded 0.78 percent lower late Thursday morning, led by declines in tech blue chips, amid renewed concerns over global energy supply shortages.

The benchmark Korea Composite Stock Price Index had shed 21.26 points, or 0.78 percent, to 2,713.79 points as of 11:20 a.m.

The Seoul market got off to a weak start, tracking overnight losses on Wall Street, after oil prices jumped about 5 percent amid supply disruptions over bad weather and the ongoing crisis surrounding Ukraine.

In Seoul, most large-cap tech shares were in negative terrain.

Market bellwether Samsung Electronics fell 0.99 percent, and No. 2 chipmaker SK hynix tumbled 2.83 percent.

Major battery maker LG Energy Solution skidded 1.35 percent, and top steelmaker POSCO Holdings lost 1.79 percent.

Auto shares traded mixed, with top automaker Hyundai Motor inching up 0.28 percent, while its affiliate Kia decreased 0.42 percent.

The local currency was trading at 1,220.10 won against the U.S. dollar, down 6.3 won from the previous session's close.


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