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[KH Explains] Why Korea's so tough on short selling
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South Korean stocks began nearly 1 percent lower Thursday, as the U.S. Federal Reserve's latest minutes showed little change of mind about tightening its monetary policy, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 17.81 points, or 0.95 percent, to 1,849.65 in the first 15 minutes of trading.
Most large-cap shares drove down the main index, with market behemoth Samsung Electronics falling 0.5 percent and the world's No. 1 shipyard Hyundai Heavy Industries losing 1.4 percent.
The U.S. central bank's July minutes, released overnight, showed that Fed officials came to a consensus to trim its aggressive bond purchases crafted to support its slowing economy, although it didn't specify a date for the start.
The local currency was trading at 1,124.90 won against the U.S. dollar as of 9:15 a.m., down 7.7 won from Wednesday's close. (Yonhap News)
The benchmark Korea Composite Stock Price Index (KOSPI) shed 17.81 points, or 0.95 percent, to 1,849.65 in the first 15 minutes of trading.
Most large-cap shares drove down the main index, with market behemoth Samsung Electronics falling 0.5 percent and the world's No. 1 shipyard Hyundai Heavy Industries losing 1.4 percent.
The U.S. central bank's July minutes, released overnight, showed that Fed officials came to a consensus to trim its aggressive bond purchases crafted to support its slowing economy, although it didn't specify a date for the start.
The local currency was trading at 1,124.90 won against the U.S. dollar as of 9:15 a.m., down 7.7 won from Wednesday's close. (Yonhap News)
