Seoul shares narrowed losses late Friday morning as retail buying offset investor worries about a possible U.S. Federal Reserve rate hike driven by higher oil prices. The benchmark KOSPI fell 157.18 points, or 2.23 percent, to 6,876.74 as of 11:20 a.m. Individuals bought a net 1.68 trillion won in stocks, while institutions and foreigners sold net 1.04 trillion won and 1.31 trillion won. The Korean won traded at 1,347.05 won against the U.S. dollar.
The Korea Composite Stock Price Index (KOSPI) is shown on a screen at a dealing room of Hana Bank in central Seoul, Friday. Yonhap
Seoul shares narrowed losses late Friday morning helped by retail buying amid investor concerns over possible rate hike by the U.S. Federal Reserve due to higher oil prices.
After opening 3.29 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) narrowed the losses, dropping 157.18 points, or 2.23 percent, to 6,876.74 as of 11:20 a.m.
Individuals bought a net 1.68 trillion won ($1.24 billion) worth of stocks, while institutions and foreigners sold a net 1.04 trillion won and 1.31 trillion won, respectively.
