Seoul: South Korean stocks traded lower late Tuesday morning as investors remained uncertain over the U.S. rate decision next month while digesting the outcome of the Seoul-Washington summit. The benchmark Korea Composite Stock Price Index (KOSPI) fell 27.27 points, or 0.85 percent, to 3,182.59 as of 11:20 a.m.
According to Yonhap News Agency, overnight, major U.S. indexes closed bearish to offset previous gains amid lingering uncertainties over the Federal Reserve's future rate decisions. Investors also sat on the sidelines to assess the impact of the overnight summit between South Korea and the United States, which fell short of reaching clear agreements regarding tariffs on individual products, including chips.
Top tech giant Samsung Electronics fell 1.4 percent and SK hynix slid 0.48 percent. LG Energy Solution and Samsung SDI, on the other hand, added 0.66 percent and 1.24 percent, respectively. Financial shares traded lower, with KB Financial falling 1.63 percent and Shinhan Financial moving down 0.9 percent. The local currency was trading at 1,389.2 won against the U.S. dollar at 11:20 a.m., down 4.5 won from the previous session.