Seoul shares down 1.13 pct in late morning

SEOUL, Aug. 31 (Yonhap) -- South Korean stocks traded 1.13 percent lower late
Monday morning as investors were concerned about a possible market correction,
analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) shed 18.09 points to
1,589.85 as of 11:20 a.m., reversing earlier gains.
Financial losses weighed on the market, with top lender Kookmin Bank declining
2.44 percent on massive foreign selling.
The local currency was trading at 1,246 won to the U.S. dollar as of 11:20 a.m.,
down 1.6 won from Friday's close, as foreign investors reduced their holdings of
local shares, dealers said.
ygkim@yna.co.kr
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