Seoul shares down 0.49 pct in late morning

SEOUL, Feb. 5 (Yonhap) -- South Korean stocks traded 0.49 percent lower late
Thursday morning, taking a cue from overnight falls in U.S. markets, analysts
said.

The benchmark Korea Composite Stock Price Index (KOSPI) inched down 5.89 points
to 1,189.48 as of 11:20 a.m.
"The key index lost ground, tracking U.S. losses, without any particular news
signaling an economic turnaround," said Rhyu Yong-suk, an analyst at Hyundai
Securities.
Local shipping lines, however, registered steep gains as the benchmark shipping
rate gauge Baltic Dry Index soared 15 percent overnight.
Wall Street figures fell Wednesday after a glum profit outlook from top U.S. food
maker Kraft Foods sparked concerns over withering consumer spending. The Dow
Jones industrial average shed 1.51 percent and the Nasdaq edged down 0.08
percent.
The local currency was trading at 1,384.75 to the U.S. dollar as of 11:20 a.m.,
down 6.25 won from Wednesday's close.
pbr@yna.co.kr
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