Seoul: Seoul shares trimmed earlier losses late Monday morning on foreign buying, with some investors continuing to lock in profits from recent gains. The benchmark Korea Composite Stock Price Index (KOSPI) fell 3.1 points, or 0.12 percent, to 2,640.03 as of 11:20 a.m.
According to Yonhap News Agency, the index opened lower, bucking losses on Wall Street, and moved within a tight range as foreign buying helped offset stock selling by institutions and individuals. The KOSPI had risen for five consecutive sessions through Friday, aided by tech gains.
Foreigners bought a net 38.58 billion won (US$26 million) worth of stocks, offsetting institutions and individuals' stock selling of 61.63 billion won and 4.3 billion won, respectively. In Seoul, tech stocks led declines.
Market bellwether Samsung Electronics fell 0.97 percent, and chip giant SK hynix declined 1.62 percent. Leading steelmaker POSCO Holdings plunged 5.21 percent, and national flag carrier Korean Air shed 0.22 percent.
Among gainers, top automaker Hyundai Motor jumped 4.15 percent, and leading battery maker LG Energy Solution rose 1.06 percent. The local currency was trading at 1,468.90 won against the U.S. dollar at 11:20 a.m., down 6.2 won from the previous session.