Seoul stocks down late Thurs. morning on Credit Suisse rout

-- Seoul stocks traded bearish late Thursday morning as investors took to the sidelines amid concerns that global investment bank Credit Suisse's fiasco may spread to other financial institutions.

The benchmark Korea Composite Stock Price Index (KOSPI) had shed 2.11 points, or 0.09 percent, to 2,377.61 points as of 11:15 a.m.

Investors remain worried that Swiss-based Credit Suisse, hit by scandals and losing confidence from investors, may face further uncertainties down the road.

Local stock markets have come under turbulence this week amid woes over the falls and crises of world-class lenders.

On Wednesday, Seoul stocks rebounded from the aftermath of the failure of two U.S. banks: Silicon Valley Bank (SVB) and Signature Bank.

In Seoul on Thursday morning, top cap Samsung Electronics added 0.33 percent, and chipmaker SK hynix rose 1.01 percent.

Leading battery maker LG energy Solutions advanced 2.12 percent, while leading carmaker Hyundai Motor slid 0.06 percent.

The local currency was changing hands at 1,311.15 won against the greenback as of 11:15 a.m., down 7.45 won from the previous session's close.

Source: Yonhap News Agency

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