Seoul shares down 1.29 pct in late morning

By Lee Youkyung
SEOUL, Oct. 5 (Yonhap) -- South Korean shares traded 1.29 percent lower late
Monday morning, as foreign and institutional investors cut holdings of tech and
financial shares tracking losses in U.S. markets, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 21.23 points to
1,623.4 as of 11:20 a.m.
Both foreign and institutional investors broadly sold local shares as losses in
U.S. markets renewed concerns over the economic recovery.
Tech shares and financial stocks were among the worst performers with market
leader Samsung Electronics sinking more than 3 percent.
Hana Financial Group, the country's No.4 financial services company, also plunged
more than 10 percent on news that it is seeking to raise as much as 2 trillion
won by selling shares in order to fund acquisitions.
The local currency was trading at 1,171.65 won to the U.S. dollar as of 11:20
a.m., up 6.65 won from Thursday's close.
ylee@yna.co.kr
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