Seoul shares extend losses in late morning trading

SEOUL, Dec. 12 (Yonhap) -- South Korean stocks extended losses late Tuesday morning as foreigners continued to sell local stocks on profit-taking.

The benchmark Korea Composite Stock Price Index fell 11.80 points, or 0.48 percent, to 2,459.69 as of 11:20 a.m.

Foreigners continued to offload domestic stocks for a fifth consecutive session, selling 147.69 billion won (US$136 million) stocks. Institutions also sold a net 20.85 billion won stocks. But individuals bought a net 148.34 billion won of shares, keeping the main index from falling sharply.

Large cap stocks were experiencing mixed trading.

Market bellwether Samsung Electronics Co. rose 0.19 percent, but No. 2 chipmaker SK hynix Inc. fell 1.65 percent. Top carmaker Hyundai Motor Co. climbed 0.67 percent.

Domestic players traded in negative territory, with cosmetics giant AmorePacific Corp. falling 5.7 percent and dominant tobacco company KT&G Corp. down 1.67 percent.

The local currency was trading at 1,088.90 won against the U.S. dollar, up 3.40 won from the previous session's close.

kyongae.choi@yna.co.kr
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