SEOUL: South Korean stocks traded nearly unchanged late Tuesday morning ahead of Lunar New Year holiday, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 3.26 points, or 0.17 percent, to 1,961.49 as of 11:20 a.m.
Carmakers went bullish, with industry leader Hyundai Motor jumping 2.53 percent and its sister Kia Motors adding 1.44 percent.
Financial shares traded strong after the central bank kept the key rate on hold at a record low of 2 percent at its February meeting earlier in the day. Shinhan Financial Group rose 1.29 percent and KB Financial Group advanced 1.07 percent.
Samsung Fire & Marine Insurance Co., the country’s largest nonlife insurer, plunged 9.57 percent on concerns that it will reduce dividend payouts this year.
The local currency was trading at 1,101.7 won against the U.S. dollar, up 0.7 won from Monday’s close.
The South Korean equity market will be closed for three days from Wednesday.
