Seoul Stock Market Slips on Semiconductor and Financial Shares

SEOUL - South Korean stocks traded lower late Monday morning, influenced by losses in the semiconductor and financial sectors.

According to a new release by Yonhap News Agency, the benchmark index lost 7.33 points, or 0.31 percent, to 2,367.67 as of 11:20 a.m. Samsung Electronics, the world's largest memory chip maker, saw its stock decline by 0.44 percent, and SK hynix, the country's No. 2 chipmaker, fell by 1.43 percent. Financial shares also weakened, with Shinhan Financial Group and Hana Financial Group, two of South Korea's major financial companies, both dropping by over 2 percent.

However, battery and auto shares exhibited strength. LG Energy Solution, a leading battery maker, gained 1.03 percent; POSCO Future M rose by 2.33 percent; and Samsung SDI increased by 0.1 percent. Top automaker Hyundai Motor saw its stock advance by 0.93 percent, while its affiliate Kia jumped by 1.96 percent.

The local currency stood at 1,352.90 won against the U.S. dollar at 11:20 a.m., a decline of 0.5 won from the previous session's close.

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