Seoul stocks retreat from yearly highs on weak China data

South Korean shares traded lower late Friday morning, retreating from fresh yearly highs a day ago, after China's latest data showed its factory production and investment slowed.

The benchmark Korea Composite Stock Price Index shed 2.15 points, or 0.1 percent, to 2,046.65 as of 11:20 a.m.

China, South Korea's No. 1 export destination, reported that its July factory output rose six percent on year, missing analysts' expectation.

After starting slightly higher, the KOSPI stock index swung between gains and losses.

Large caps traded mixed with market kingpin Samsung Electronics shedding 0.32 percent, and global chipmaker SK hynix down 1.44 percent.

AmorePacific, the largest cosmetics maker, fell 1.77 percent.

In contrast, top automaker Hyundai Motor rose 0.74 percent, and its smaller affiliate Kia Motors traded 1.08 percent higher.

POSCO, the No.1 steelmaker, advanced 1.08 percent.

The local currency was trading at 1,101.95 won against the U.S. dollar, down 1.45 won from the previous session's close. (Yonhap)