Seoul shares trimmed earlier gains late Friday morning on foreign selling, with investors remaining concerned over a slower pace of rate cuts by the Federal Reserve.The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.41 points, or 0.25 percent, to 2,587.44 as of 11:20 a.m.Institutions and foreigners sold a combined 231 billion won (US$167 million) worth of stocks, offsetting individuals' stock purchases valued at 243 billion won.Overnight, U.S. stocks ended mixed. The Dow Jones Industrial Average fell 0.33 percent to 42,374.36, while the tech-heavy Nasdaq Composite rose 0.76 percent to 18,415.49.In Seoul, large-cap stocks were mixed.Market bellwether Samsung Electronics Co. fell 0.9 percent, top carmaker Hyundai Motor Co. declined 1.5 percent, state utility Korea Electric Power Corp. dropped 1.5 percent, and leading cosmetics firm Amorepacific Corp. shed 4.2 percent.Among gainers, No. 2 chipmaker SK hynix Inc. rose 1.7 percent, leading auto parts maker Hyundai Mobis Co. jumped 4.6 perc ent, and dominant tobacco company KT and G Corp. was up 1.6 percent.Korea Zinc advanced 5.2 percent as investors await the results of its share buyback that ended Wednesday in a dispute over the control of the world's biggest zinc smelter.Shares in Korea Zinc were trading at 1.25 million won apiece as of 11:20 am. That level, well above the 890,000 won buyback offer, indicates that some investors expect there might be an even higher offer price as the battle for control escalates.Korea Zinc has been in a takeover battle against private equity firm MBK Partners and Young Poong Corp., the smelter's largest shareholder.In the tender offer that ended last week, Young Poong and MBK secured a 5.34 percent stake in Korea Zinc at 830,000 won apiece, bringing their overall stake to more than 38 percent.Chairman Choi and his family own a total 15.6 percent stake in the zinc firm. Korea Zinc sees its friendly shares, including the Choi family's, reaching a 34-36 percent stake.The local currency was trading a t 1,382.35 won against the U.S. dollar, down 2.2 won from the previous session.Source: Yonhap News Agency
- October 12, 2026
