SEOUL: South Korean stocks traded 0.69 percent lower late Monday morning as investor sentiment was dented by concerns of a looming interest rate hike in the United States, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) decreased 13.83 points to 1,996.4 as of 11:20 a.m., falling under the psychologically important 2,000-point mark.
Techs traded mixed, with market behemoth Samsung Electronics edging up 0.26 percent. Chipmaker SK hynix backtracked 0.28 percent. LG Electronics also stepped back 1.48 percent.
Top steelmaker POSCO lost 1.55 percent, and IT solutions provider Samsung SDS plunged 2.87 percent. Cheil Industries, the eighth-largest company on the local bourse by market cap, also dropped 2.61 percent.
The local currency was trading at 1,165.20 won to the U.S. dollar, up 2.20 won from Friday’s close.
