Seoul shares trade 0.61 pct down in late morning

SEOUL, Oct. 21 (Yonhap) -- South Korean stocks traded 0.61 percent lower late
Wednesday morning as investors unloaded tech shares and shipbuilders following
overnight losses in U.S. markets, analysts said.
After range-bound trading, the benchmark Korea Composite Stock Price Index
(KOSPI) declined 10.16 points to 1,648.98 as of 11:20 a.m.
Tech blue chips, led by chip giant Hynix Semiconductor, traded in negative
territory, mirroring falls in their U.S. rivals.
Top carmaker Hyundai Motor, however, rose more than 3 percent as investors hunted
for bargains on a bright outlook for the company's earnings.
U.S. markets closed lower Tuesday on disappointing housing data. The Dow Jones
industrial average declined 0.5 percent and the tech-laden Nasdaq composite index
shed 0.59 percent.
The local currency was trading at 1,182.65 won to the U.S. dollar as of 11:20
a.m., down 15.75 won from Tuesday's close.
sooyeon@yna.co.kr
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