SEOUL– South Korean stocks traded sharply lower late Tuesday morning, as Russia has ordered troop dispatch to the breakaway regions in Ukraine.
The benchmark Korea Composite Stock Price Index (KOSPI) lost 41.95 points, or 1.53 percent, to 2,701.85 points as of 11:20 a.m.
Investors dumped stocks following reports that Russian has decided to dispatch what it called “peacekeeping forces” to eastern Ukraine.
The key stock index hovered around the 2,700-point mark, with investors closely watching the circumstances in Ukraine.
Most large caps slumped in Seoul, led by foreign sell-offs.
Market bellwether Samsung Electronics decreased 1.75 percent, and No. 2 chipmaker SK hynix shed 1.92 percent.
Internet portal operator Naver declined 2.67 percent, and leading chemical firm LG Chem moved down 3.25 percent. Top carmaker Hyundai Motor lost 1.89 percent.
The local currency was trading at 1,195.25 won against the U.S. dollar, down 3.15 won from the previous session’s close.
Source: Yonhap News Agency