Seoul shares down 0.32 pct in late morning

SEOUL, March 25 (Yonhap) -- South Korean stocks fell 0.32 percent late Wednesday morning as investors unloaded banks and shipyards following overnight U.S. losses, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) declined 3.89 points to
1,217.81 as of 11:20 a.m.
Major stocks traded mixed, with banking and shipping issues driving the decline,
as investors locked in profits from their recent upswings.
The decline came after U.S. stocks lost ground Tuesday on profit-taking from
previous day's nearly 7 percent advance. The Dow Jones industrial average fell
1.49 percent and the tech-heavy Nasdaq lost 2.52 percent.
The local currency was trading at 1,388.25 won to the U.S. dollar as of 11:20
a.m., down 4.75 won from Tuesday's close.