stocks-morning
Seoul stocks trim gains late morning ahead of Fed's rate meeting
SEOUL, Sept. 20 (Yonhap) -- South Korean stocks trimmed early gains late Tuesday morning as foreigners and individual investors unloaded holdings.
The benchmark Korean Composite Stock Price Index (KOSPI) rose 0.55 percent to trade at 2,368.63 as of 11:20 a.m.
After getting off to a strong start, the index trimmed gains amid concerns over continued monetary tightening and a global economic slowdown ahead of the U.S. Federal Reserve's two-day policy meeting that will kick off on Tuesday (U.S. time).
Market bellwether Samsung Electronics shed 0.35 percent, leading chemical firm LG Chem dipped 1.42 percent, and chipmaker SK hynix lost 1.56 percent.
Financial shares were among gainers. Shinhan Holdings gained 1.39 percent, and Samsung Life Insurance jumped 3.69 percent.
Auto shares remained in negative territory, with top carmaker Hyundai Motor declining by 1.24 percent and its affiliate Kia inching down 0.12 percent.
The local currency was changing hands at 1,389.40 won against the greenback as of 11:20 a.m., up 4.2 won from the previous session's close.
(END)
(C) Yonhap News Agency. All Rights Reserved
