SEOUL, - South Korean stocks were trading lower late Thursday morning, despite positive movements in U.S. stock markets influenced by cooler-than-expected inflation data. This divergence highlights the complex dynamics affecting South Korea's financial markets.
According to Yonhap News Agency, The Korea Composite Stock Price Index (KOSPI) had fallen by 6.94 points, or 0.28 percent, to 2,479.73 as of 11:20 a.m. This decline comes in contrast to the overnight gains on Wall Street, where U.S. stocks closed higher following reports indicating a slower-than-expected rise in the producer price index in October. The Dow Jones Industrial Average rose by 0.47 percent, while the Nasdaq Composite saw a 0.07 percent gain.
In Seoul, large-cap stocks showed mixed performances. Market leader Samsung Electronics experienced a slight gain of 0.23 percent, whereas SK hynix, the second-largest chipmaker, saw a decrease of 1.19 percent. LG Energy Solution, a leading battery maker, dropped 1.77 percent, and top portal operator Naver fell 2.19 percent. On the other hand, top automaker Hyundai Motor increased by 0.93 percent, with its affiliate Kia surging 2.45 percent.
The local currency, the won, was weaker against the U.S. dollar, trading at 1,307.40 won, down 6.60 won from the previous session's close.