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Seoul stocks down late Tuesday morning

2018/04/17 11:47

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SEOUL, April 17 (Yonhap) -- South Korean stocks traded lower late Tuesday morning as a foreign sell-off and losses in bio shares weighed down the market.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 2.45 points, or 0.1 percent, to 2,455.04 as of 11:20 a.m.

The market opened trailing overnight gains on Wall Street, but it soon reversed course as foreign investors expanded their selling.

Eased geopolitical concerns surrounding Syria generally soothed investors, but they took to the sidelines awaiting the release of economic data from China due Tuesday, including its first-quarter economic growth numbers, according to analysts.

Most large-cap shares traded in negative terrain, with a fall in bio shares dragging down the main index.

Market bellwether Samsung Electronics decreased 0.36 percent, and major chipmaker SK hynix skidded 1.31 percent.

Celltrion, a major pharmaceutical firm, lost 1.69 percent, and Samsung Biologics, Samsung's health care unit, retreated 2.65 percent.

The local currency was trading at 1,069.4 won against the U.S. dollar, up 4.6 won from the previous session's close.