Seoul shares down late Wed. morning amid profit-taking

SEOUL, South Korean stocks traded lower late Wednesday morning as investors sought profits from the previous session's sharp gain. The benchmark Korea Composite Stock Price Index had decreased 7.01 points, or 0.25 percent, to 2,750.08 as of 11:20 a.m. Tech giant Samsung Electronics slipped 0.5 percent, while No. 2 chipmaker SK hynix gained 2.38 percent. No. 1 oil refinery SK Innovation edged down 0.08 percent, and leading chemicals maker LG Chem fell 1 percent. Bio firm Celltrion retreated 2.74 percent, and major banking group KB Financial Group dropped 0.97 percent. The local currency was trading at 1,345.15 won against the U.S. dollar, down 5.65 won from the previous session's close. Source: Yonhap News Agency