Seoul shares down 0.35 pct in late morning

SEOUL, April 24 (Yonhap) -- Paring earlier gains, South Korean stocks lapsed into
negative territory late Friday morning as investors locked in profits from recent
gains, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 4.82 points, or 0.35
percent, to 1,363.98 as of 11:20 a.m. The index had closed up for a fourth
consecutive day until Thursday.
Tech shares plunged after major companies announced earnings for the first
quarter. Industry leader Samsung Electronics dropped more than 3 percent after
reporting that its first-quarter earnings fell 72 percent.
The local currency was trading at 1,342.35 won to the U.S. dollar as of 11:20
a.m., up 5.65 won from Thursday's close.
kokobj@yna.co.kr
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