Seoul: South Korean stocks traded lower late Tuesday morning, driven by losses in tech shares, amid heightened uncertainty ahead of the U.S. presidential election. The benchmark Korea Composite Stock Price Index had fallen 15.52 points, or 0.6 percent, to 2,573.45 as of 11:20 a.m.

According to Yonhap News Agency, overnight Wall Street closed lower as investors treaded water ahead of the U.S. presidential election Tuesday (U.S. time), where former President Donald Trump and Vice President Kamala Harris are neck and neck in the polls. Investors’ eyes are also on the two-day Federal Open Market Committee meeting that opens Wednesday, where the Federal Reserve will decide whether to deliver another rate cut.

In Seoul, tech behemoth Samsung Electronics slid 1.87 percent, while its chipmaking rival SK hynix gained 0.72 percent. Leading battery maker LG Energy Solution lost 1.41 percent, and its smaller rival Samsung SDI plunged 5.48 percent. Top automaker Hyundai Motor dropped 1.62 percent, with its sister Kia do
wn 0.92 percent. Steel giant POSCO Holdings also retreated more than 2 percent.

Bio shares also turned lower, with Samsung Biologics down 0.98 percent and Celltrion down 2.03 percent. Korea Zinc, the world’s largest smelter in the middle of a management control battle, was among the few gainers, soaring over 7 percent. The local currency was trading at 1,378.1 won against the U.S. dollar, down 7.2 won from the previous session.