Seoul shares down 0.7 pct late Wed. morning on tech, chemical losses

South Korean stocks traded 0.7 percent lower late Wednesday morning, weighed down by the losses in tech and chemical blue-chips.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped 17.23 points to 2,506.66 at around 11:20 a.m.

Market bellwether Samsung Electronics fell 0.6 percent, and leading chemicals producer LG Chem lost 1.6 percent. Top battery maker LG Energy Solution dipped over 2.5 percent.

Auto stocks trended in the red. Hyundai Motor was down 1 percent and its affiliate Kia slid 1.2 percent.

Steel giant POSCO Holdings was among the gainers, trading up 0.5 percent, on the announcement it is building a large nickel intermediate factory in Indonesia.

Entertainment agency Hybe continued the gaining streak, moving up about 3.5 percent.

The local currency was changing hands at 1,339.20 won against the greenback at around 11:20 a.m., up 2.9 won from Tuesday's close.

Source: Yonhap News Agency

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