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Seoul stocks trade lower late Wednesday morning

11:28 October 23, 2019

SEOUL, Oct. 23 (Yonhap) -- Seoul stocks traded lower late Wednesday morning as investors remained cautious over Brexit uncertainties.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 8.02 points, or 0.38 percent, to reach 2,080.84 as of 11:20 a.m.

The index had a weak start, tracking overnight losses on Wall Street. U.S. stocks dropped Tuesday (local time) on concerns over the global economy following the latest Brexit developments. Earlier, British lawmakers rejected the government's plan to pull Britain out of the European Union by Oct. 31.

In Seoul, large caps were mixed, although pharmaceutical shares were strong.

Market kingpin Samsung Electronics was flat, while No. 2 chipmaker SK hynix lost 1.14 percent.

Top carmaker Hyundai Motor dipped 0.41 percent, while auto parts maker Hyundai Mobis dropped 1.04 percent.

Leading pharmaceutical firm Celltrion advanced 4.96 percent, while Samsung BioLogics shot up 8.14 percent.

The local currency was trading at 1,175.10 won against the U.S. dollar, down 5.40 won from the previous session's close.
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