Seoul stocks down 0.4 pct in late morning

SEOUL, May 29 (Yonhap) -- South Korean stocks traded 0.22 percent lower Friday
morning as geopolitical risks spooked investor confidence, analysts said.

In volatile trading, the benchmark Korea Composite Stock Price Index (KOSPI) shed
3.01 points to 1,389.16 as of 11:20 a.m.
"Rising political tensions between the two Koreas are putting the key index in
range-bound moves," said Song Kyoung-keun, an analyst at Dongbu Securities.
Inter-Korean tensions intensified as South Korea put its military forces on high
alert after North Korea unilaterally nullified the truce ending the Korean War in
1953 following its nuclear test on Monday.
The local currency was trading at 1,261.2 won against the U.S. dollar, down 4.2
won from Thursday's close.
pbr@yna.co.kr
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