SEOUL: South Korean stocks traded 1.1 percent lower late Monday morning as investor sentiment was dampened by a Greek vote against bailout terms that stoked concerns about a Grexit from the eurozone, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) retreated 23.12 points to 2,081.29 as of 11:20 a.m.
Large-cap exporters led the decline, with top handset maker Samsung Electronics sinking 1.26 percent and Hyundai Motor falling 1.48 percent.
AmorePacific, the largest cosmetics firm, dropped 1.8 percent and No. 2 LG Household & Health Care fell 2.57 percent.
Samsung C&T, the construction arm of Samsung Group, rose 0.15 percent, while Cheil Industries, the group’s de facto holding company, lost 1.91 percent, amid escalating tension over the two companies’ merger.
The local currency was changing hands at 1,124.75 won against the greenback as of 11:20 a.m., down 1.75 won from Friday’s close.
