Seoul shares down 1.79 pct in late morning

SEOUL, April 8 (Yonhap) -- South Korean stocks traded 1.79 percent lower late
Wednesday morning as investor sentiment was hurt by overnight falls in U.S.
markets, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) declined 23.31 points to
1,276.79 as of 11:20 a.m.
"The KOSPI took a breather after the market rose sharply in recent sessions and
Wall Street lost ground," said Hwang Bin-ah, an analyst at Kyobo Securities Co.
Hwang also added that investors are waiting to hear the results of a rate
decision by the Bank of Korea (BOK). The BOK is widely expected to freeze the
rate for the second straight month at a record low of 2 percent on Thursday.
U.S. stocks closed lower Tuesday as investors were wary with the first-quarter
earnings season getting under way. The Dow Jones industrial average fell 2.34
percent and the tech-heavy Nasdaq composite index declined 2.81 percent.
The Korean currency was trading at 1,345 won to the U.S. dollar as of 11:20 a.m.,
down 22.5 won from Tuesday's close.
sooyeon@yna.co.kr
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