Seoul stocks down 1.59 pct in late morning

SEOUL, May 18 (Yonhap) -- South Korean stocks traded 1.59 percent lower late
Monday morning on renewed worries about a global economic recovery, analysts
said.
The benchmark Korea Composite Stock Price Index (KOSPI) dropped 22.08 points to
1,369.65 as of 11:20 a.m.
"With a lack of market-moving leads, investors are taking profits as they
question an early turnaround of the global economy," said Choi Sung-lak, an
analyst at SK Securities.
Most sectors traded in negative territory, but drugmakers gained ground following
a renewed threat of an Influenza A outbreak.
The local currency was trading at 1,273.15 won to the U.S. dollar as of 11:20
a.m., down 16.15 won from Friday's close.
pbr@yna.co.kr
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