SEOUL– South Korean stocks traded lower late Monday morning, as investors took to the sidelines over the Ukraine risk, which stemmed from concerns about Moscow’s potential invasion of Ukraine.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 13.35 points, or 0.49 percent, to 2,731.17 points as of 11:20 a.m.
Most large caps traded lower in Seoul due to foreign and institutional sell-offs, with tech and chemical sectors leading the KOSPI’s retreat.
The key stock index pared some of its earlier losses in the morning, backed by data on strong exports. South Korea’s exports rose 13.1 percent on-year in the first 20 days of February, according to customs data.
Market bellwether Samsung Electronics decreased 0.94 percent, and No. 2 chipmaker SK hynix shed 1.52 percent.
Internet portal operator Naver declined 1.1 percent, and leading chemical firm LG Chem moved down 1.75 percent.
Among gainers, pharmaceutical giant Samsung Biologics added 0.66 percent.
The local currency was trading at 1,195.05 won against the U.S. dollar, up 0.85 won from the previous session’s close.
Source: Yonhap News Agency