SEOUL: South Korean stocks shed 0.3 percent late Friday morning as investors remain cautious ahead of the upcoming U.S. Fed rate decision.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.39 points to 1,946.18 as of 11:20 a.m.
The index opened higher in line with overnight gains in the U.S. but it soon reversed course with foreign investors expanding their sell-off.
The Federal Reserve, set to hold a meeting next week, is widely expected to raise interest rates for the first time in nearly a decade.
The local currency was changing hands at 1,179.6 won against the greenback as of 11:20 a.m., up 1.7 won from Thursday’s close.
