Seoul stocks down 0.96 pct in late morning

SEOUL, March 6 (Yonhap) -- South Korean stocks traded down 0.96 percent late
Friday morning, pummeled by bank and shipbuilder losses, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 10.17 points to
1,048.01 as of 11:20 a.m., but it pared earlier losses on institutional buying.
"Banks led the losses on stubborn fears over their ability to repay or roll over
maturing foreign debts amid a turbulent currency market," said Joo Sang-chul, an
analyst at Kyobo Securities.
The won was trading at 1,572.3 won to the U.S. dollar as of 11:20 a.m., down 4.3
won from Thursday's close.
pbr@yna.co.kr
(END)