Seoul stocks down 0.36 pct in late-morning trade

SEOUL, May 19 (Yonhap) -- South Korean stocks traded 0.36 percent lower late Thursday morning, led by bank declines, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) skidded 7.6 points to trade at 2,128.18 as of 11:20 a.m. Major banking groups, including KB Financial Group, all traded sharply lower as investor jitters hiked due to consolidation moves in the industry. Foreign investors extended their net selling following their five-day selling run. The local currency was trading at 1,082.7 won to the U.S. dollar as of 11:20 a.m., up 5.2 won from Wednesday's close.