Seoul shares trade lower late Mon. morning after Trump assassination attempt

Seoul shares traded lower late Monday morning as investors sat on the sidelines in the aftermath of the assassination attempt of former U.S. President Donald Trump over the weekend. The benchmark Korea Composite Stock Price Index had fallen 4.02 points, or 0.14 percent, to 2,852.98 as of 11:20 a.m. Trump was injured when a gunshot struck his ear during a campaign rally in Pennsylvania on Saturday (U.S. time). The incident led more investors to bet on his victory in the upcoming presidential election, which is likely to lead to a stronger U.S. dollar. In Seoul, top tech giant Samsung Electronics fell 0.12 percent and No. 2 chipmaker SK hynix climbed 0.43 percent. Leading battery maker LG Energy Solution lost 3.75 percent. Defense shares also traded higher amid the increased possibility of Trump's victory, with Hyundai Rotem rising 8.89 percent and LIG Nex1 climbing 12.62 percent. Insurers, on the other hand, traded bearish, with Samsung Life Insurance falling 0.53 percent and Samsung Fire and Marine In surance decreasing 2.09 percent. The local currency was trading at 1,382.9 won against the U.S. dollar at 11:20 a.m., down 3.3 won from the previous session's close. Source: Yonhap News Agency