Seoul shares trim earlier gains in late morning trading
SEOUL, Aug. 20 (Yonhap) -- Seoul shares mostly erased earlier gains late Monday morning as net selling by foreigners and individuals exceeded purchases by institutions amid concerns over an escalating trade war between the United States and China.
The benchmark Korea Composite Stock Price Index (KOSPI) was up 2.32 points, or 0.10 percent, to 2,249.37 as of 11:20 a.m.
Foreigners and individuals sold a combined 20 billion won (US$18 million) worth of stocks, far exceeding 4 billion worth of stock purchases by institutional investors.
Market bellwether Samsung Electronics Co. turned lower, putting downward pressure on the KOSPI Index. The tech giant fell 0.57 percent.
In other major decliners, leading refiner SK Innovation Co. shed 0.19 percent and cosmetics giant AmorePacific Corp. was down 0.96 percent.
Steel and auto stocks advanced, with leading steelmaker POSCO jumping 3.83 percent and top carmaker Hyundai Motor Co. gaining 0.79 percent.
The South Korean won was trading at 1,121.10 won against the U.S. dollar, up 3.80 won from the previous session's close.
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