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Seoul shares down 1.26 pct in late-morning trade



South Korean stocks traded 1.26 percent lower late Friday morning due to losses in large-cap exporters, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 24.77 points to 1,939.71 as of 11:20 a.m.

Big-cap tech names led the decline, with market bellwether Samsung Electronics plunging 1.86 percent and its smaller rival LG Electronic moving down 1.63 percent. Flat panel giant LG Display lost 2.98 percent.

Carmakers also traded in negative territory, with No. 1 industry player Hyundai Motor losing 3.61 percent, and its smaller affiliate Kia Motors decreasing 4.59 percent. Top auto parts maker Hyundai Mobis shed 1.51 percent.

The local currency was changing hands at 1,071.45 won against the greenback, down 2.75 won from Thursday's close. (Yonhap News)

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