Seoul shares down 0.6 pct in late Fri. morning trade

Business

South Korean stocks traded 0.58 percent lower late Friday morning, weighed down by the fall in blue chip chemical and energy sectors.

The benchmark Korea Composite Stock Price Index (KOSPI) had lost 14.85 points to 2,548.26 as of around 11:20 a.m.

Leading chemical company LG Chem, the fifth-largest listed firm by market cap, dipped more than 2.6 percent.

Battery makers continued to trade in negative terrain, with top player LG Energy Solution sliding 0.9 percent and Samsung SDI retreating more than 1 percent.

SK Innovation, a major energy company, dipped nearly 2 percent. Chemical and battery components manufacturer POSCO Future M sank more than 3 percent.

In contrast, chipmakers and bio companies gathered ground.

Samsung Electronics gained 0.6 percent. Biotech firm Samsung Biologics rose 1.7 percent, and biopharmaceutical firm Celltrion added 0.5 percent.

The local currency was changing hands at 1,328.9 won against the greenback at around 11:20 a.m., down 6.1 won from Thursday’s close.

Source: Yonhap News Agency