Seoul stocks down almost 0.7 pct in late morning

SEOUL, Sept. 14 (Yonhap) -- South Korean stocks traded 0.68 percent lower late
Monday morning on concerns that a strengthening local currency may dent tech
exporter earnings, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) slid 11.3 points to trade
at 1,640.4 as of 11:20 a.m.
"Big-cap tech shares led the market falls as the South Korean won's uptrend is
feared to weigh on their outbound shipments," said Bae Sung-young, an analyst at
Hyundai Securities.
Weak finishes on Wall Street Friday also prompted the KOSPI to take a breather
after powerful rallies, Bae said.
The local unit closed at 1,221.8 won to the greenback last week, touching the
strongest level since early August on recovery hopes.
The Korean currency was trading at 1,226.15 won to the U.S. dollar as of 11:20
a.m., down 4.45 won from Friday's close.
pbr@yna.co.kr
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