Seoul shares down 0.3 pct in late Thu. morning trade

South Korean stocks traded 0.28 percent lower late Thursday morning, with utilities and general trading companies losing ground.

The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.28 points to 2,571.72 at around 11:20 a.m.

The state-run utility service provider Korea Electric Power shed 1.2 percent. POSCO International, the trading unit of steel giant POSCO Holdings, slid 2.9 percent.

Tech behemoth Samsung Electronics erased earlier losses and turned higher, moving up about 0.3 percent.

Top automaker Hyundai Motor gained 0.7 percent and its smaller affiliate Kia advanced more than 1 percent.

Naver, the internet portal giant, soared 4.5 percent after rosy quarterly earnings forecasts by local brokerages.

The local currency was changing hands at 1,301.00 won against the greenback at 11:20 a.m., down 2.4 won from Wednesday's close.

Source: Yonhap News Agency

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