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THE INVESTOR] Shares in South Korea barely moved in late morning trade on Aug. 25, as investors stepped aside due to an apparent lack of leads.
The benchmark KOSPI stood at 2,043.98 as of 11:20 a.m., inching up 0.22 point, or 0.01 percent, from the previous session’s close.
The index opened slightly lower following overnight losses on Wall Street.
The Dow Jones industrial average slipped 0.35 percent to close at 18,481.48, with the tech-heavy NASDAQ plunging 0.81 percent to 5,217.69.
Investors were apparently spooked by an earlier report that US stockpiles of crude oil jumped by nearly 4.5 million barrels last week, causing global oil prices to plunge.
On Wednesday, the price of Dubai crude, South Korea’s benchmark, tumbled 3.14 percent to US$45.38 per barrel.
Market bellwether Samsung Electronics slipped 0.06 percent, with top automaker Hyundai Motor shedding 0.37 percent.
Global steelmaker POSCO added 0.45 percent, while leading cosmetics-maker LG Household & Health Care plunged 3.21 percent.
The local currency was trading at 1,119.7 won against the US dollar, strengthening 2.3 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
