Seoul stocks down late Tue. morning

정주원 / 2022-01-11 11:34:38
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Seoul stocks down late Tue. morning

SEOUL, Jan. 11 (Yonhap) -- South Korean stocks turned to losses late Tuesday morning, as investors await the U.S. Federal Reserve chief's comment at the Senate hearing.

The benchmark Korea Composite Stock Price Index (KOSPI) had fallen 10.1 points, or 0.35 percent, to 2,916.62 points as of 11:20 a.m.

Stocks started solid on bargain hunting as investors sought to buy oversold stocks after the KOSPI's recent slump.

But the key stock index swung to losses as investors took to the sidelines ahead of the Fed chairman's speech at the U.S. Senate hearing, slated for later in the day.

In Seoul, top cap Samsung Electronics added 0.38 percent, No. 2 chipmaker SK hynix increased 1.61 percent, and pharmaceutical giant Samsung Biologics climbed 0.24 percent.

Leading automaker Hyundai Motor traded flat, and Kakao lost 0.72 percent. Steelmaker POSCO declined 1.97 percent.

The local currency was trading at 1,194.65 won against the U.S. dollar, up 4.45 won from the previous session's close.


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