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Seoul shares turn lower Wednesday morning on foreign selling
By Paige ShinPublished : July 20, 2017 - 11:58
South Korean stocks turned lower Thursday morning as foreigners and institutions offloaded their holdings. The won traded down against the dollar.
The benchmark Korea Composite Stock Price Index that started the day in positive territory surrendered 0.60 points, or 0.02 percent, to 2,429.34 as of 11:20 a.m.
Foreigners and institutions sold a combined 40 billion won ($36 million) worth of stocks more than they bought. Individuals acquired a net 25 billion won that kept the main index from falling further.
Auto and defensive stocks were lead decliners, with top carmaker Hyundai Motor Co. falling 1.68 percent and leading cosmetics company AmorePacific Corp. shedding 0.82 percent.
Market bellwether Samsung Electronics Co. rose 0.08 percent, and No. 2 chipmaker SK hynix Inc. also climbed 0.14 percent.
The local currency was trading at 1,125.35 won against the US dollar, down 4.75 won from the previous session's close. (Yonhap)
