Seoul shares down 2.72 pct in late-morning trade

SEOUL, Sept. 5 (Yonhap) -- South Korean stocks traded 2.72 percent lower late Monday morning as weak U.S. job reports renewed recession concerns, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) fell 50.75 points to 1,817 as of 11:20 a.m.
Foreign and institutional investors cut shares of large-cap exporters, sending most sectors into negative territory.
Oil refiners and shipbuilders were the biggest losers. Top oil refiner SK Innovation plunged nearly 7 percent and Hyundai Heavy Industries, the world's biggest shipyard, tumbled more than 5 percent.
The local currency was trading at 1,068.15 won to the greenback as of 11:20 a.m., down 5.15 won from Friday's close.