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Markets

South Korean shares turn negative

SEOUL : South Korean stocks dipped in morning trade Wednesday, overturning a higher opening on news that ratings agency
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By Shoaib Ur Rehman
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seuolSEOUL: South Korean stocks dipped in morning trade Wednesday, overturning a higher opening on news that ratings agency Moody's downgraded Japan's sovereign debt rating by one notch.

The benchmark KOSPI, which opened up 0.66 percent, turned negative to trade at around 1,750 points, down 1.5 percent around noon.

Financials and techs led the fall, with Shinhan Financial Group slumping more than five percent and Samsung Electronics losing 2.8 percent.

 

Copyright AFP (Agence France-Presse), 2011

 

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