ID :
205421
Tue, 09/06/2011 - 06:32
Auther :
Shortlink :
https://oananews.org//node/205421
The shortlink copeid
Seoul shares down 0.62 pct in late-morning trade
SEOUL, Sept. 6 (Yonhap) -- South Korean stocks traded 0.62 percent lower late Tuesday morning as uncertainties in Europe's sovereign debts sparked foreign and institutional sell-offs, analysts said.
Narrowing earlier losses, the benchmark Korea Composite Stock Price Index (KOSPI) dropped 11.1 points to 1,774.73 as of 11:20 a.m.
Foreign investors and institutional investors engaged in sell-offs of auto and electronics manufacturers, sending the KOSPI as much as 2.34 percent lower at one point. But retail investors capped the loss, picking up chemical makers and tech exporters.
Steelmakers bounced back after a local brokerage said in a report that their profits will hit bottom in the third quarter. POSCO rose more than 2 percent and Hyundai Steel spiked about 5.5 percent.
The local currency was trading at 1,070.6 won to the greenback as of 11:20 a.m., down 1.8 won from Monday's close.
Narrowing earlier losses, the benchmark Korea Composite Stock Price Index (KOSPI) dropped 11.1 points to 1,774.73 as of 11:20 a.m.
Foreign investors and institutional investors engaged in sell-offs of auto and electronics manufacturers, sending the KOSPI as much as 2.34 percent lower at one point. But retail investors capped the loss, picking up chemical makers and tech exporters.
Steelmakers bounced back after a local brokerage said in a report that their profits will hit bottom in the third quarter. POSCO rose more than 2 percent and Hyundai Steel spiked about 5.5 percent.
The local currency was trading at 1,070.6 won to the greenback as of 11:20 a.m., down 1.8 won from Monday's close.
