Seoul shares down in late morning trading

SEOUL, Jan. 24 (Yonhap) -- South Korean shares traded lower in late Tuesday morning as both foreigners and institutions offloaded shares.

The benchmark Korea Composite Stock Price Index (KOSPI) lost 4.90 points, or 0.24 percent, to 2,061.90 as of 11:20 a.m.

The index opened higher on gains in tech shares, but pared earlier gains as most market heavyweights turned lower.

Market bellwether Samsung Electronics lost 0.16 percent. Leading automaker Hyundai Motor shed 1.68 percent and its sister company, Kia Motors, declined 2.79 percent.

Meanwhile, global chipmaker SK hynix gained 0.98 percent and the state-run Korea Electric Power added 0.93 percent.

The local currency was trading at 1,162.30 won against the U.S. greenback, up 3.20 won from Monday's close.

khj@yna.co.kr
(END)