The Korea Herald

피터빈트

Seoul shares down 0.25% in late morning trade

By KH디지털2

Published : Jan. 19, 2016 - 14:00

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South Korean stocks traded 0.25 percent lower late Tuesday morning amid growing woes over China's economy, the top export market for Asia's No. 4 economy.

The benchmark Korea Composite Stock Price Index lost 4.64 points to 1,873.81 as of 11:20 a.m.

Carmakers continued to trade weak, with Hyundai Motor falling 0.72 percent and its auto parts affiliate Hyundai Mobis losing 1.24 percent. Kia Motors, in contrast, edged up 0.21 percent.

Logistics also traded bearish, with Hyundai Glovis moving down 0.78 percent and top air carrier Korean Air losing 2.61 percent.

Jeju Air, a budget carrier, plunged 7.83 percent.

China said Tuesday its fourth-quarter gross domestic product growth for 2015 edged up 6.8 percent on-year, marking the lowest rate since the first quarter of 2009.

The local currency was trading at 1,212.50 won against the U.S. dollar as of 11:20 a.m., down 1.6 won from the previous session's close.

mobile banking services of 16 local commercial banks and the Korea Post reached a combined 60.08 million. The figure has been on a steep rise over the past few years from 37 million in 2013 to 40 million in the first quarter of 2014 and 50 million in the first quarter of 2015.

Asked about reasons for not using financial services via mobile platforms, a majority cited concerns over personal data leakage and possible financial losses over any erroneous or wrongful transactions.

"It is required to devise measures to boost convenience for users and guarantee the security of mobile transactions," BOK official Chae Kyu-hang said. (Yonhap)