SEOUL: South Korean stocks traded lower late Friday morning as investors took to the sidelines ahead of the closely watched U.S. monthly jobs report due later in the day and its potential impact on the Federal Reserve’s rate decision.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 14.21 points, or 0.74 percent, to 1,901.32 as of 11:20 a.m.
Blue-chip stocks were in negative territory.
Top automaker Hyundai Motor retreated 0.99 percent and chip giant SK hynix fell 0.56 percent.
Amore Pacific, the nation’s leading cosmetics maker, sank 3.18 percent.
A strong jobs report may prompt the Federal Reserve to start raising interest rates from record lows on Sept. 17.
The local currency was changing hands at 1,191.35 won against the U.S. dollar, down 1.05 won from Thursday’s close.
