Seoul stocks down late Fri. morning despite tech rally on Wall Street
SEOUL, Aug. 28 (Yonhap) -- Seoul stocks were trading lower late Friday morning, ...
SEOUL, August 28 - Seoul stocks experienced a decline late Friday morning, despite a rise on Wall Street, as investors sold off tech giants in anticipation of the Jackson Hole meeting. The KOSPI index slipped 55.66 points, or 0.81 percent, to 6,856.71 at 11:20 a.m., with retail investors and foreigners turning net sellers. US stocks ended higher overnight, buoyed by earnings beat from Nvidia and gains in other AI-related shares.
Investors are keenly watching Federal Reserve Chair Kevin Warsh's comments during the Jackson Hole Symposium for hints on the central bank's future policy stance. Samsung Electronics, as well as industry peer SK hynix, both fell 1.97 percent and 1.21 percent respectively. Hyundai Motor, a major financial firm KB Financial, and nuclear power plant builder Doosan Enerbility, on the other hand, saw slight gains, up 0.38 percent, 0.65 percent, and 1.22 percent respectively.
The Korean won was trading at 1,378.3 per US dollar at 11:20 a.m., marking a 3.2 won increase from the previous trading session.
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- Seoul stocks open lower despite US rally koreatimes.co.kr
