SEOUL — The Seoul stock market experienced fluctuations Tuesday morning, erasing early gains primarily due to significant losses in automotive and financial sectors. The benchmark Korea Composite Stock Price Index (KOSPI) slightly increased by 0.02 percent to 2,858.36 points as of 11:20 a.m. but faced downward pressure from key industry players.
According to Yonhap News Agency, major carmakers were among the hardest hit, with Hyundai Motors dropping 3.36 percent and Kia Motors declining 2.58 percent. Auto parts manufacturer Hyundai Mobis also saw a decrease of 2.32 percent. In the financial sector, notable firms such as KB Financial and Shinhan Financial fell by 3.11 percent and 2.12 percent, respectively. However, there was a contrasting performance in the tech sector, where Samsung Electronics saw a rise of 0.57 percent, and chipmaker SK Hynix climbed by 1.07 percent. Additionally, internet companies like Naver and Kakao made modest gains, with increases of 0.18 percent and 0.47 percent, respectively.
The local currency, the won, was trading at 1,385.5 against the U.S. dollar, marking a decrease of 2.2 won from the previous session's close.