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THE INVESTOR] South Korean shares traded lower late morning on Aug. 12, retreating from fresh yearly highs a day ago.
The benchmark KOSPI hit a 10-month high of over 2,060 during early morning trading. The index shed 2.15 points, or 0.1 percent, to 2,046.65 as of 11:20 a.m.
After starting slightly higher, the KOSPI stock index swung between gains and losses.
China, South Korea’s No. 1 export destination, reported that its July factory output rose six percent on year, missing analysts’ expectation.
Large caps traded mixed with market kingpin Samsung Electronics shedding 0.32 percent, and global chipmaker SK hynix down 1.44 percent.
AmorePacific, the largest cosmetics maker, fell 1.77 percent.
In contrast, top automaker Hyundai Motor rose 0.74 percent, and its smaller affiliate Kia Motors traded 1.08 percent higher.
POSCO, the No.1 steelmaker, advanced 1.08 percent.
The local currency was trading at 1,101.95 won against the US dollar, down 1.45 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
