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Seoul shares trim earlier losses Tuesday morning

South Korean stocks trimmed earlier losses Tuesday morning as institutions and individuals bought stocks on bargain hunting. The won traded higher against the dollar. 

The benchmark Korea Composite Stock Price Indexa backtracked 1.75 points, or 0.07 percent, from the previous day's close to stand at 2,423.35 as of 11:20 a.m.


Institutions and individuals bought a combined 85 billion won ($75 million) worth of stocks. Foreigners sold a net 93 billion won, pulling down the main index.

Market bellwether Samsung Electronics Co. rebounded to trade in positive territory. The chip giant rose 0.04 percent, with No. 2 chipmaker SK hynix Inc. moving up 0.28 percent. 

Defensive stocks, such as utilities and cosmetics firms, also advanced, with Korea Electric Power Corp. up 0.47 percent and leading cosmetics firm AmorePacific Corp. up 1.03 percent.

Top carmaker Hyundai Motor Co. led declines, falling 0.33 percent. Its sister company Kia Motors Corp. fell 2.13 percent and No. 1 auto parts makers Hyundai Mobis Co. was down 0.60 percent.

The local currency was trading at 1,126.75 won against the US dollar, up 1.55 won from the previous session's close. (Yonhap)
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