Seoul shares dip for 6th session ahead of key U.S. inflation data

- South Korean shares extended their losing streak to six sessions Tuesday as investors took a cautious approach ahead of key U.S. inflation data that would affect the upcoming rate-setting meeting. The local currency traded lower against the U.S. greenback. The benchmark Korea Composite Stock Price Index lost 12.5 points, or 0.49 percent, to close at 2,523.43. The main index has continued its bearish mode since Sept. 3. Trading volume was light at 341.2 million shares worth 8.3 trillion won (US$6.2 billion), with decliners beating gainers 531 to 342. Foreigners and institutions led the decline, selling a net 662.9 billion won and 62.3 billion won, respectively. Individual investors purchased a net 684.7 billion won. Overnight, Wall Street's three major indices finished steeply higher as investors sought bargains after the previous week's sell-off while awaiting inflation reports on Wednesday and the Federal Reserve's policy meeting next week. In Seoul, most shares finished in negative territory. Marke t bellwether Samsung Electronics lost 1.93 percent to 66,200 won, and its chipmaking rival SK hynix retreated 0.96 percent to 155,500 won. Major carmaker Kia fell 0.6 percent to 100,200 won, and its auto parts affiliate Hyundai Mobis declined 0.47 percent to 211,500 won. Leading battery maker LG Energy Solution sank 5.01 percent to 379,500 won, and major shipbuilder Hanwha Ocean skidded 1.33 percent to 29,700 won. But food giant Nongshim advanced 0.4 percent to 380,000 won, and bio tech company SK bioscience rose 4.41 percent to 54,500 won. The local currency traded at 1,343.7 won against the dollar at 3:30 p.m., down 3.9 won from the previous session. Source: Yonhap News Agency