Seoul stocks 0.64 pct down in late morning

SEOUL, July 10 (Yonhap) -- South Korean stocks traded 0.64 percent lower late
Friday morning on earnings jitters, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 9.2 points to
1,421.69 as of 11:20 a.m.

"Investors were cautious ahead of earnings reports as they feared local firms'
second-quarter results may be disappointing," said Lee Jae-man, an analyst at
Tong Yang Securities. "Earnings for the last quarter are expected to be sluggish
except few sectors like tech and financial."
The local currency was trading at 1,276.8 won against the U.S. dollar as of 11:20
a.m., up 2.2 won from Thursday's close.
pbr@yna.co.kr
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