Seoul shares down late Tues. morning on tech, energy losses

SEOUL, South Korean stocks continued to trade lower late Tuesday morning mainly due to losses from technology and energy shares. The benchmark Korea Composite Stock Price Index had fallen 30.4 points, or 1.13 percent, to 2,655.44 as of 11:20 a.m. Investors continued to take a wait-and-see approach on the upcoming Federal Open Market Committee's rate-setting meeting this week. Market watchers widely anticipate a rate freeze, with expectations leaning toward a potential cut within 2024. In Seoul, top tech giant Samsung Electronics fell 1.1 percent, and No. 2 chipmaker SK hynix shed 3.59 percent. State-run energy firms also traded bearish. KEPCO plunged 7.61 percent, and Korea Gas lost 2.99 percent. Hyundai Motor decreased 1.65 percent, and Kia lost 6.64 percent. Auto parts maker Hyundai Mobis moved down 3.17 percent. The local currency was trading at 1,337.7 won against the U.S. dollar, down 4 won from the previous session's close. Source: Yonhap News Agency