Seoul shares down 0.78 pct in late-morning trade

SEOUL, Sept. 30 (Yonhap) -- South Korean stocks traded 0.78 percent lower late Friday morning despite positive news from the eurozone, as institutional investors went on a massive selling spree, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) retreated 13.72 points to 1,755.57 as of 11:20 a.m.
Techs led the decline with Samsung Electronics, the biggest firm by market capitalization, falling around 2 percent.
In contrast, construction firms were bullish. Top builder Hyundai Engineering & Construction jumped more than 4 percent.
On Thursday, three European countries, including the region's economic powerhouse Germany, approved expanding the European Financial Stability Facility in a bid to soothe the eurozone's debt problems.
The local currency was changing hands at 1,179.85 won to the greenback as of 11:20 a.m., down 6.35 won from Thursday's close.
mil@yna.co.kr
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