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Korean stocks almost flat late Tuesday morning

July 4, 2017 - 13:44 By Park Ju-young
Korean stocks traded almost flat late Tuesday morning, as top market cap Samsung Electronics and No. 2 SK hynix attempted to rebound amid heavy losses by automakers.

   The benchmark Korea Composite Stock Price Index (KOSPI) shed

1.72 points, or 0.07 percent, to 2,392.76 as of 11:15 a.m.

   Market kingpin Samsung Electronics rose 0.04 percent, and SK hynix, a major chipmaker, remained unchanged.

   In contrast, Hyundai Motor, the No. 1 automaker, dropped 2.75 percent, and its smaller affiliate Kia Motors shed 1.68 percent.

   Banking stocks rebounded with Shinhan Financial and KB Financial rising 1.31 percent and 0.52 percent, respectively.

   The local currency was trading at 1,148.05 won against the U.S.

dollar, down 1.45 won from the previous session's close. (Yonhap)