ID :
209345
Mon, 09/26/2011 - 06:27
Auther :
Shortlink :
https://oananews.org//node/209345
The shortlink copeid
Seoul shares down 0.64 pct in late-morning trade
SEOUL, Sept. 26 (Yonhap) -- South Korean stocks traded 0.64 percent lower late Monday morning as fears over a global economic recession triggered massive sell-offs by foreigners and retail investors, analysts said.
After plunging more than 3 percent at one point, the benchmark Korea Composite Stock Price Index (KOSPI) lost 10.8 points to 1,686.64 as of 11:20 a.m.
Shares lost ground across the board, with Korea Zinc, the world's No. 2 smelter, nosediving around 12 percent on tumbling gold prices.
In contrast, financial and tech shares outperformed the market, with No. 3 banking group Shinhan Financial Group gaining nearly 3 percent.
The local currency was changing hands at 1,185.55 won to the greenback as of 11:20 a.m., down 19.55 won from Friday's close.
After plunging more than 3 percent at one point, the benchmark Korea Composite Stock Price Index (KOSPI) lost 10.8 points to 1,686.64 as of 11:20 a.m.
Shares lost ground across the board, with Korea Zinc, the world's No. 2 smelter, nosediving around 12 percent on tumbling gold prices.
In contrast, financial and tech shares outperformed the market, with No. 3 banking group Shinhan Financial Group gaining nearly 3 percent.
The local currency was changing hands at 1,185.55 won to the greenback as of 11:20 a.m., down 19.55 won from Friday's close.
