ID :
185213
Mon, 05/30/2011 - 06:46
Auther :
Shortlink :
https://oananews.org//node/185213
The shortlink copeid
Seoul shares down 0.27 pct in late-morning trade
SEOUL, May 30 (Yonhap) -- South Korean stocks turned 0.27 percent lower late Monday morning, reversing their earlier course, as foreign and institutional investors reduced holdings of tech blue chips, analysts said.
Wiping out its earlier gain, the benchmark Korea Composite Stock Price Index (KOSPI) went down 5.76 points to 2,094.48 as of 11:20 a.m.
Samsung SDI, the world's No. 2 maker of hybrid vehicle batteries, plunged nearly 9 percent after it announced last week that it will take over a solar battery business from affiliate Samsung Electronics for $147.6 million.
Chipmakers lost ground, hit by foreign selling. Tech heavyweight Samsung Electronics was down about 1 percent, and Hynix Semiconductor slumped more than 4 percent,
The local currency was trading at 1,080.55 won to the greenback as of 11:20 a.m., up 1.95 won from Friday's close.
Wiping out its earlier gain, the benchmark Korea Composite Stock Price Index (KOSPI) went down 5.76 points to 2,094.48 as of 11:20 a.m.
Samsung SDI, the world's No. 2 maker of hybrid vehicle batteries, plunged nearly 9 percent after it announced last week that it will take over a solar battery business from affiliate Samsung Electronics for $147.6 million.
Chipmakers lost ground, hit by foreign selling. Tech heavyweight Samsung Electronics was down about 1 percent, and Hynix Semiconductor slumped more than 4 percent,
The local currency was trading at 1,080.55 won to the greenback as of 11:20 a.m., up 1.95 won from Friday's close.
