Seoul shares turn weaker late morning

SEOUL, Nov. 11 (Yonhap) -- South Korean stocks traded 0.09 percent lower late
Wednesday morning as investors remained cautious ahead of a key rate decision,
analysts said.
Amid range-bound trading, the benchmark Korea Composite Stock Price Index (KOSPI)
fell 1.5 points to 1,580.8 as of 11:20 a.m.
South Korea's central bank will hold its monthly rate-setting meeting on
Thursday. The Bank of Korea (BOK) is widely expected to freeze the benchmark
seven-day repo rate at a record low of 2 percent, but investors are awaiting
remarks by the BOK chief to gauge the timing of a possible rate hike.
Most large caps including tech and bank shares traded in negative territory. But
shares of SK C&C, the information-system developing unit of SK Group, jumped more
than 9 percent on its first day of trading on the main bourse.
The local currency was trading at 1,159.35 won to the U.S. dollar as of 11:20
a.m., up 2.85 won from Tuesday's close.
sooyeon@yna.co.kr
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