SEOUL– South Korean stocks swung to losses late Tuesday morning, led by foreign investors’ selling of local stocks.

The benchmark Korea Composite Stock Price Index (KOSPI) had edged down 3.78 points, or 0.13 percent, to 2,956.42 points as of 11:20 a.m.

Losses on the chemical, transport and auto stocks led the key stock index’s retreat.

Overnight, the Dow Jones Industrial Average added 0.29 percent amid market optimism that the economic recovery is able to accommodate the inflation risks. The tech-heavy Nasdaq composite rose 0.07 percent.

In Seoul, top cap Samsung Electronics lost 0.42 percent, while No. 2 chipmaker SK hynix increased 0.47 percent.

Pharmaceutical giant Samsung Biologics and Kakao, the operator of leading mobile messenger Kakao Talk, traded flat.

Top automaker Hyundai Motor declined 1.16 percent, and electric car battery maker LG Chem advanced 1.04 percent.

The local currency was trading at 1,177.75 won against the U.S. dollar, up 5.35 won from the previous session’s close.

Source: Yonhap News Agency