[
THE INVESTOR] South Korean stocks were almost flat late morning on Sept. 2.
The benchmark KOSPI slipped 0.93 point, or 0.05 percent, to 2,031.79 as of 11:20 a.m.
Institutions offloaded shares, while foreigners and individuals were net-buyers.
This week, the KOSPI already declined for the two consecutive days amid uncertainty over the timing of the US interest-rate hike.
Traders will closely watch the US payrolls report for August to be issued at night (Seoul time) for clues to the Fed’s decision in weeks or months.
“A wait-and-see sentiment is expected to keep growing ahead of the September FOMC meeting,” Bae Seong-young, an equity analyst at Hyundai Securities, said. “The KOSPI will repeat limited gains and losses for the time being.”
Samsung Electronics gained 0.25 percent. The state-run Korea Electric Power Corp. lost 1.04 percent. Leading automaker Hyundai Motor added 2.66 percent, and Amore Pacific, the top cosmetics maker, advanced 2.53 percent.
The South Korean won was trading at 1,118.70 won against the US greenback, up 3.40 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
