SEOUL, South Korean stocks extended their losses late Tuesday morning amid lack of major market-moving events as investors still assess weak U.S. job data and its impact on the Federal Reserve’s timeline for tapering its stimulus.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 18.92 points, or 0.59 percent, to 3,184.41 points as of 11:20 a.m.
The key stock index kicked off slightly lower in the absence of major events related to the Fed’s tapering.
Overnight, the U.S. stock exchanges were closed for a holiday.
In Seoul, top cap Samsung Electronics lost 1.42 percent, and No. 2 chipmaker SK hynix retreated 0.94 percent.
Internet portal operator Naver moved down 1.32 percent, and pharmaceutical giant Samsung Biologics decreased 0.63 percent.
Leading chemical firm LG Chem traded flat, and top automaker Hyundai Motor declined 1.63 percent. Top bank stock Kakao Bank dipped 3.75 percent.
The local currency was trading at 1,158.35 won against the U.S. dollar, down 1.85 won from the previous session’s close.
Source: Yonhap News Agency