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THE INVESTOR] South Korean shares dropped slightly in late morning on Oct. 5, amid uncertainty over the US monetary policy.
The benchmark KOSPI ticked down 0.88 point, or 0.04 percent, to 2,053.98 as of 11:20 a.m.
Local shares were weak on early trade as both foreign and institutions fretted about the prospect of a Federal Reserve interest rate hike in coming months, following hawkish comments from one of the Fed officials.
Top automaker Hyundai Motor retreated 0.36 percent and steelmaker POSCO declined 0.65 percent.
Cosmetic shares were down, with No. 1 AmorePacific shedding 1.27 percent and its smaller rival LG Household & Health Care falling 3.29 percent.
In contrast, tech shares rose ahead of the third-quarter earnings season.
Samsung Electronics edged up 0.31 percent, and chip giant SK hynix rose 0.6 percent.
The local currency was changing hands at 1,114.6 won against the US dollar, down 6.2 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
