Seoul shares down 0.42 pct in late-morning trade
Published : 2013-01-21 13:07
Updated : 2013-01-21 13:07
South Korean stocks traded 0.42 percent lower late Monday morning due to concerns over the further weakening of the Japanese yen, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 8.28 points to 1,979.57 as of 11:20 a.m.
Most exporters traded in negative territory, with top steelmaker POSCO dropping 0.7 percent and biggest shipyard Hyundai Heavy Industries sliding 0.22 percent.
No. 1 carmaker Hyundai Motor fell 0.7 percent and its smaller affiliate Kia Motors lost 1.85 percent ahead of their fourth-quarter earnings announcement later this week.
The local currency was changing hands at 1,058.75 won against the greenback, down 1.55 won from Friday's close. (Yonhap News)