SEOUL, 17th May, 2024 (WAM) -- South Korean stocks traded sharply lower late Friday morning as investors sought profit after the previous day's big gain, Yonhap News Agency reported.
The benchmark Korea Composite Stock Price Index had lost 21.13 point, or 0.77 percent, to 2,731.87 as of 11:20 am.
The stock market enjoyed a 0.83 percent increase on Thursday following a moderation in US inflation, which fuels strong optimism for a possible rate cut.
The local currency was trading at 1,355.95 won against the US dollar at 11:20 am, down 10.95 won from the previous session's close.