ID :
186831
Tue, 06/07/2011 - 06:28
Auther :
Shortlink :
https://www.oananews.org//node/186831
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Seoul stocks down 0.79 pct in late-morning trade
SEOUL (Yonhap) - South Korean stocks traded 0.79 percent lower late Tuesday morning, dragged down by oil refiners and auto makers, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 16.74 points to trade at 2,096.73 as of 11:20 a.m.
The key stock index extended losses after falling in the past three consecutive sessions, due to nagging worries over euro-zone debt problems and weak U.S. May employment data.
SK Innovation, the top oil refinery, sank nearly 6 percent, tracking overnight falls by U.S. energy companies.
The biggest vehicle manufacturer Hyundai Motor also slumped over 2 percent as investors locked in profits following the firm's recent big gains.
The local currency was trading at 1,080.75 won to the U.S. dollar as of 11:20 a.m., down 0.75 won from Friday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 16.74 points to trade at 2,096.73 as of 11:20 a.m.
The key stock index extended losses after falling in the past three consecutive sessions, due to nagging worries over euro-zone debt problems and weak U.S. May employment data.
SK Innovation, the top oil refinery, sank nearly 6 percent, tracking overnight falls by U.S. energy companies.
The biggest vehicle manufacturer Hyundai Motor also slumped over 2 percent as investors locked in profits following the firm's recent big gains.
The local currency was trading at 1,080.75 won to the U.S. dollar as of 11:20 a.m., down 0.75 won from Friday's close.
