Seoul stocks were trading lower late Friday morning as investors sold tech heavyweights ahead of the Jackson Hole meeting. The KOSPI fell 55.66 points, or 0.81 percent, to 6,856.71 at 11:20 a.m. Samsung Electronics and SK hynix both declined, while Hyundai Motor, KB Financial and Doosan Enerbility rose. The Korean won strengthened to 1,378.3 won against the U.S. dollar.
Financial data is displayed at the dealing room of Hana Bank in central Seoul, Friday. Yonhap
Seoul stocks were trading lower late Friday morning, despite an overnight advances on Wall Street, as investors dumped tech heavyweights ahead of the Jackson Hole meeting.
The benchmark Korea Composite Stock Price Index (KOSPI) was trading down 55.66 points, or 0.81 percent, to 6,856.71 as of 11:20 a.m., as retail investors and foreigners became net sellers.
U.S. stocks closed higher overnight, lifted by forecast-beating earnings from Nvidia and advances in other artificial intelligence (AI)-related shares.
