Seoul stocks down 0.4 pct late morning

SEOUL, Jan. 12 (Yonhap) -- South Korean stocks traded 0.4 percent lower late Tuesday morning, led by financial shares, analysts said.
Reversing opening gains, the benchmark Korea Composite Stock Price Index (KOSPI)
dropped 6.81 points to trade at 1,687.31 as of 11:20 a.m.
Hanwha Securities slid more than 6 percent on speculation that the brokerage may
sell new shares to fund its attempt to take over Prudential Investment &
Securities, the local brokerage unit of Prudential Financial.
The local currency was trading at 1,125.95 won to the U.S. dollar as of 11:20
a.m., down 6.15 won from Monday when the won reached its highest level in 16
months.
pbr@yna.co.kr
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