Seoul: Seoul shares extended losses late Friday morning following a mixed close on Wall Street as uncertainties surrounding U.S. import tariffs weighed on investor sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) fell 12.80 points, or 0.4 percent, to 3,214.88 as of 11:20 a.m.
According to Yonhap News Agency, the Dow Jones Industrial Average dropped 0.51 percent to 43,968.64 overnight, while the tech-heavy Nasdaq Composite rose 0.35 percent to 21,242.70. In Seoul, foreigners and institutions were net sellers, offloading a combined 203 billion won (US$146 million) worth of local shares as of 11:20 a.m.
Most large caps were in negative terrain. Leading steelmaker POSCO Holdings fell 1.01 percent, and major battery maker LG Energy Solution lost 2.98 percent. State-run utility firm Korea Electric Power Corp. plunged 5.12 percent, while leading refiner SK Innovation shed 1.01 percent. Top automaker Hyundai Motor dipped 0.24 percent, and local industry leader LG Chem shed 6.32 percent.
Among gainers, tech giant Samsung Electronics rose 1.84 percent, and its chipmaking rival SK hynix climbed 0.19 percent. Samsung shares extended gains for a second straight session following reports that the company will manufacture Apple Inc.'s next-generation processor at its foundry in Austin, Texas.
The local currency was trading at 1,386.45 won against the U.S. dollar at 11:20 a.m., down 5.25 won from the previous session.