SEOUL– South Korean stocks traded nearly flat late Monday morning amid cautions over the United States’ monetary policy path and a global economic downturn.
The benchmark Korea Composite Stock Price Index (KOSPI) had added 0.92 points, or 0.04 percent, to 2,452.13 as of 11:20 a.m.
The index opened markedly lower but rose into positive terrain as individuals’ buying offset selling by foreign and institutional investors.
Eyes are now on the monetary policy paths of the Federal Reserve and the Bank of Korea. The South Korean central bank will hold a rate decision meeting Thursday, and the Fed will release the minutes of its latest policy meeting this week.
In Seoul, big-cap shares traded mixed.
Market bellwether Samsung Electronics remained unchanged, and chip giant SK hynix rose 0.43 percent.
Leading battery maker LG Energy Solution dived 2.25 percent, and Samsung SDI tumbled 1.71 percent. LG Chem dropped 2.18 percent.
Carmakers lost ground. Top automaker Hyundai Motor went down 0.67 percent, and its affiliate Kia shed 0.39 percent.
But bio shares rose, with Samsung Biologics increasing 1 percent and Celltrion jumping 1.49 percent.
Internet giant Naver advanced 1.16 percent, and Kakao, the operator of the popular mobile messenger Kakao Talk, climbed 1.26 percent.
No. 1 steelmaker POSCO Holdings also jumped 1.95 percent.
The local currency was changing hands at 1,297.15 won against the greenback as of 11:20 a.m., up 2.35 won from the previous session’s close.
Source: Yonhap News Agency