ID :
84236
Mon, 10/12/2009 - 10:40
Auther :
Shortlink :
https://www.oananews.org//node/84236
The shortlink copeid
Seoul stocks down 0.84 pct in late morning
SEOUL, Oct. 12 (Yonhap) -- South Korean stocks traded 0.84 percent lower late Monday morning as investors hunted for bargains following last week's gains, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) dropped 13.77 points to
trade at 1,633.02 as of 11:20 a.m.
"Foreign and institutional investors pocketed profits after the key index climbed
to a two-week high last Friday," Kim Young-joon, an analyst at SK Securities
said.
Tech firms led the broader market fall on foreign selling and financial shares
also lost ground, tracking drops by U.S. peers that were triggered by
weaker-than-expected earnings outlooks for the third quarter, Kim said.
The local currency was trading at 1,170.85 won to the U.S. dollar as of 11:20
a.m., down 6.35 won from Friday's close.
pbr@yna.co.kr
The benchmark Korea Composite Stock Price Index (KOSPI) dropped 13.77 points to
trade at 1,633.02 as of 11:20 a.m.
"Foreign and institutional investors pocketed profits after the key index climbed
to a two-week high last Friday," Kim Young-joon, an analyst at SK Securities
said.
Tech firms led the broader market fall on foreign selling and financial shares
also lost ground, tracking drops by U.S. peers that were triggered by
weaker-than-expected earnings outlooks for the third quarter, Kim said.
The local currency was trading at 1,170.85 won to the U.S. dollar as of 11:20
a.m., down 6.35 won from Friday's close.
pbr@yna.co.kr
