Seoul shares down 0.55 pct in late morning

By Lee Youkyung
SEOUL, Sept. 4 (Yonhap) -- South Korean stocks traded 0.55 percent lower late
Friday morning as institutional sell-offs of auto and tech shares weighed on the
market, analysts said.
Reversing earlier gains, the benchmark Korean Composite Stock Price Index (KOSPI)
slid 8.95 points to 1,604.58 as of 11:20 a.m.
Tech and auto sectors lost ground following recent gains. Chipmaking giant Hynix
Semiconductor plunged more than 6 percent and No. 2 carmaker Kia Motors shed more
than 3 percent.
The local currency was trading at 1,242.25 won to the greenback as of 11:20 a.m.,
up 3.75 won from Thursday's close.
ylee@yna.co.kr
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