ID :
186215
Fri, 06/03/2011 - 07:04
Auther :
Shortlink :
https://oananews.org//node/186215
The shortlink copeid
Seoul shares down 0.2 pct in late-morning trade
SEOUL, June 3 (Yonhap) -- South Korean stocks traded 0.2 percent lower late Friday morning as concerns about U.S. debts prompted a flight to safety, analysts said.
Wiping out earlier gains, the benchmark Korea Composite Stock Price Index (KOSPI) shed 4.24 points to 2,109.96 as of 11:20 a.m.
Foreign and institutional investors reduced holdings of local stocks after Moody's issued a warning on U.S. debts and deficits.
Tech blue chips led the falls, with LG Electronics sinking more than 2 percent after its chief executive officer said the company's mobile business will not make a turnaround in the current quarter.
The local currency was trading at 1,078.05 won to the greenback as of 11:20 a.m., up 2.65 won from Thursday's close.
Wiping out earlier gains, the benchmark Korea Composite Stock Price Index (KOSPI) shed 4.24 points to 2,109.96 as of 11:20 a.m.
Foreign and institutional investors reduced holdings of local stocks after Moody's issued a warning on U.S. debts and deficits.
Tech blue chips led the falls, with LG Electronics sinking more than 2 percent after its chief executive officer said the company's mobile business will not make a turnaround in the current quarter.
The local currency was trading at 1,078.05 won to the greenback as of 11:20 a.m., up 2.65 won from Thursday's close.
