Seoul: South Korean stocks traded lower late Friday morning, following recent sharp gains, amid legal uncertainties surrounding the United States' tariff policies. The benchmark Korea Composite Stock Price Index (KOSPI) had lost 14.20 points, or 0.52 percent, to 2,706.44 as of 11:20 a.m.
According to Yonhap News Agency, the index opened lower and had been in negative terrain due to selling by institutional and foreign investors. Investors are assessing the implications of recent court rulings on U.S. President Donald Trump's sweeping tariff scheme, as a U.S. federal appeals court temporarily reinstated the tariff policy Thursday (U.S. time), just one day after a trade court had blocked them.
Top-cap shares showed mixed results. Market bellwether Samsung Electronics surged 1.25 percent, while chip giant SK hynix sank 2.36 percent. Leading battery maker LG Energy Solution shed 1.04 percent, and No. 1 steelmaker POSCO Holdings lost 0.59 percent. Defense giant Hanwha Aerospace retreated 3.38 percent, while leading financial firm KB Financial advanced 0.78 percent.
Carmakers also lost ground, with top automaker Hyundai Motor going down 2.36 percent, and its sister affiliate Kia dipping 3.11 percent. However, major bio firm Samsung Biologics added 0.1 percent, and Celltrion rose 0.95 percent.
The local currency was trading at 1,374.85 won against the U.S. dollar at 11:20 a.m., down 5.35 won from the previous session.