SEOUL: South Korean stocks traded sharply lower late Monday morning as investors were spooked by a plunge in the Chinese market late last week.
The benchmark Korea Composite Stock Price Index dropped 31.05 points, or 1.53 percent, to 1,997.94 as of 11:20 a.m.
Most blue chips traded lower, with tech and brokerage companies among marked decliners.
Samsung Electronics fell nearly 3 percent, while panel maker LG Display lost 1.75 percent. Samsung Securities also shed 2.2 percent.
On Friday, the Shanghai Composite Index plunged over 5 percent following the revelation of insider trading involving large-sized brokerage companies.
The local currency was changing hands at 1,158.85 won against the greenback as of 11:20 a.m., down 5.85 won from Friday’s close.
