Seoul stocks down late Fri. morning as investors eye Ukraine peace talks

SEOUL– South Korean stocks slipped amid choppy trading on Friday, as investors eye the ongoing Ukraine-Russia peace talks after eased Fed uncertainties.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 1.22 points, or 0.05 percent, to trade at 2,693.29 points as of 11:20 a.m.

Stocks traded bearish as investors took to the wait-and-see mode on mixed signals about the peace talks between Ukraine and Russia. Investors are also digesting the U.S. Federal Reserve’s hawkish stance to further raise the key interest rates to reign in the price pressure.

Large caps traded mixed in Seoul.

Market bellwether Samsung Electronics lost 0.98 percent, and No. 2 chipmaker SK hynix retreated 1.61 percent.

Internet portal operator Naver advanced 0.44 percent, and top carmaker Hyundai Motor increased 0.89 percent. Financial heavyweight KB Financial Group moved down 2.25 percent.

The local currency was trading at 1,213.45 won against the U.S. dollar, up 0.85 won from the previous session’s close.

Source: Yonhap News Agency

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