Seoul shares trade lower in late morning session

SEOUL, Nov. 28 (Yonhap) -- South Korean stocks traded lower late morning Friday on losses in shipbuilders and oil refiners as falling crude oil prices darkened their profit outlook, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) moved down 0.19 percent, or 3.69 points, to 1,978.4 as of 11:20 a.m.

Leading shipbuilder Hyundai Heavy Industries slumped 3.88 percent, and Samsung Heavy Industries lost 5.24 percent. Daewoo Shipbuilding & Marine Engineering plummeted 7.42 percent.

Oil refiners were also in negative territory, with industry leader SK Innovation nosediving 5.77 percent and S-Oil falling back 5.06 percent.

The local currency was trading at 1,104.00 won against the U.S. dollar as of 11:20 a.m., down 5.60 won from Thursday's close.

yjkim8826@yna.co.kr
(END)