Seoul stocks down 1.81 pct in late morning

SEOUL, Dec. 24 (Yonhap) -- South Korean stocks traded 1.81 percent lower late
Wednesday morning as investors became skittish over looming restructuring plans
for troubled companies, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) declined 20.71 points to
1,123.6 as of 11:20 a.m.
"The recent momentum, spurred by a batch of government stimulus measures, gave
way to speculation that major industries that are losing money could soon face
restructuring," said Hwang Bin-ah, an analyst at Kyobo Securities.
The Financial Supervisory Service, the nation's financial watchdog, said Tuesday
it will push for overhauling construction and small shipbuilding companies that
are staggering under a prolonged economic slump, to prevent defaults.
The local currency was trading at 1,324.25 won to the U.S. dollar as of 11:20
a.m., up 13.75 won from Tuesday's close.
pbr@yna.co.kr
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