Seoul stocks trade bearish amid profit-taking

SEOUL, April 8 (Yonhap) — South Korean stocks traded near zero late Thursday morning as investors attempted to cash in recent gains amid a lack of events.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.28 points, or 0.07 percent, to 3,139.69 points as of 11:20 a.m.

Choppy trading continued in late morning after the KOSPI gained in the past five sessions.

The KOSPI got off to a lackluster start as the Federal Reserve reiterated its stance that it would continue the existing support despite positive economic signals.

In Seoul, top cap Samsung Electronics lost 0.93 percent, while No. 2 chipmaker SK hynix gained 0.35 percent.

Top automaker Hyundai Motor climbed 0.65 percent, while internet portal operator Naver retreated 0.52 percent. Leading chemical firm LG Chem declined 0.62 percent.

Pharmaceutical firm Samsung Biologics edged up 0.26 percent.

The local currency was trading at 1,118.4 won against the U.S. dollar, down 2.1 won from the previous session’s close.




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