Seoul stocks down 1.31 pct in late morning

By Lee Youkyung
SEOUL, Aug. 12 (Yonhap) -- South Korean shares traded 1.31 percent lower
Wednesday on sell-offs by foreign investors, analysts said.
The benchmark Korean Composite Stock Price Index (KOSPI) slid 20.74 points to
1,558.47 as of 11:20 a.m.

"Investors' purchasing appetite was curbed by overnight falls in U.S markets and
as caution prevailed before the Federal Reserves meeting," said Hwang Bin-ah, an
analyst at Kyobo Securities Co.
Foreign investors turned net-sellers to end a 20-session buying streak, the
longest since 1998.
Financial, tech, and auto shares lost ground on foreign investors' pull-backs in
large caps. No. 2 financial services company Woori Finance Holdings Co. shed
nearly 4 percent and market leader Samsung Electronics declined more than 1
percent. Hyundai Motor also shed 2.29 percent.
The local currency traded at 1,247.8 won to the U.S. dollar as of 11:20 a.m.,
down 8.8 won from Tuesday's close.
ylee@yna.co.kr
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