ID :
189151
Fri, 06/17/2011 - 06:37
Auther :
Shortlink :
https://oananews.org//node/189151
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Seoul stocks down 0.65 pct in late-morning trade
South Korean stocks traded 0.65 percent lower late Friday morning, led by electronics and financial tumbles, analysts said.
Reversing opening gains, the benchmark Korea Composite Stock Price Index (KOSPI) slumped 13.35 points to trade at 2,033.28 as of 11:20 a.m.
Electronics makers led the market slump on foreigners' sell-offs triggered by growing pessimism over their second-quarter profit earnings. Top electronics maker Samsung Electronics slumped nearly 4 percent while computer memory chip giant Hynix skidded more than 6 percent in late-morning trading.
Hana Financial Group extended its opening losses to trade more than 9 percent lower on a cloudy outlook over its attempt to take over a controlling stake in Korea Exchange Bank form Lone Star Funds.
The local currency was trading at 1,087.55 won to the U.S. dollar as of 11:20 a.m., up 2.35 won from Thursday's close.
Reversing opening gains, the benchmark Korea Composite Stock Price Index (KOSPI) slumped 13.35 points to trade at 2,033.28 as of 11:20 a.m.
Electronics makers led the market slump on foreigners' sell-offs triggered by growing pessimism over their second-quarter profit earnings. Top electronics maker Samsung Electronics slumped nearly 4 percent while computer memory chip giant Hynix skidded more than 6 percent in late-morning trading.
Hana Financial Group extended its opening losses to trade more than 9 percent lower on a cloudy outlook over its attempt to take over a controlling stake in Korea Exchange Bank form Lone Star Funds.
The local currency was trading at 1,087.55 won to the U.S. dollar as of 11:20 a.m., up 2.35 won from Thursday's close.
