SEOUL-- South Korean stocks traded nearly flat late Friday morning ahead of the holiday as investors weighed the pace of an economic recovery from the pandemic.
The benchmark Korea Composite Stock Price Index (KOSPI) edged up 0.93 points, or 0.03 percent, to 3,131.02 points as of 11:20 a.m.
The key stock index erased its earlier losses as investors digested mixed U.S. economic indicators, such as slow inflation and strong retail sales in August, and their impact on the global economy.
Overnight, the Dow Jones Industrial Average declined 0.18 percent, with the S&P 500 slipping 0.16 percent. The tech-heavy Nasdaq Composite edged up 0.13 percent.
Investors also sat on the sidelines as the local financial market is set to close from Monday to Wednesday for the Chuseok holiday, the Korean equivalent of Thanksgiving.
Market kingpin Samsung Electronics gained 0.92 percent, and No. 2 chipmaker SK hynix added 1.92 percent.
Internet portal giant Naver decreased 0.37 percent, but top pharmaceutical firm Samsung Biologics moved up 0.98 percent.
Leading carmaker Hyundai Motor climbed 0.24 percent, while giant chemical maker LG Chem retreated 1.4 percent.
The local currency was trading at 1,179 won to the U.S. dollar, down 7.2 won from the previous session's close.
Source: Yonhap News Agency