Seoul shares up 1.14 pct in late-morning trade

SEOUL, June 14 (Yonhap) -- South Korean stocks traded 1.14 percent higher late Tuesday morning as investors snapped up tech and bank shares, shrugging off concerns about the eurozone debt crisis, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 23.26 points to 2,072 as of 11:20 a.m.
The KOSPI started weaker as sentiment remained fragile on concerns about the eurozone debt crisis. Global credit appraiser S&P downgraded Greece's sovereign credit rating on Monday by three notches to "CCC" from "B," saying that the debt-ridden country "will likely" face a debt restructuring.
But solid institutional buying reversed the KOSPI's earlier losses. Market leader Samsung Electronics advanced 1.41 percent and No. 2 banking group Woori Finance added 1.31 percent.
U.S. markets closed mixed on Monday amid economic uncertainty. The Dow Jones industrial average inched up 0.01 percent while the tech-laden Nasdaq Composite Index fell 0.15 percent.
The local currency was trading at 1,083.45 won to the greenback as of 11:20 a.m., up 2.45 won from Monday's close.
sooyeon@yna.co.kr
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