Seoul stocks trim losses late Monday morning

SEOUL-- South Korean stocks pared earlier losses late Monday morning on a buying spree by individuals amid concerns that the Fed may raise rates at a faster and stronger-than-expected pace.

The benchmark Korea Composite Stock Price Index (KOSPI) inched down 1.1 points, or 0.04 percent, to reach 2,694.96 as of 11:20 a.m.

Most large-cap shares traded mixed.

Market kingpin Samsung Electronics went up 0.6 percent after opening lower, and No. 2 chipmaker SK hynix increased 0.93 percent.

In contrast, key battery maker LG Energy Solution inched down 0.23 percent, and pharmaceutical giant Samsung Biologics lost 0.89 percent.

The local currency was trading at 1,233.3 won against the U.S. dollar, down 3.7 won from the previous session's close.

Source: Yonhap News Agency