Seoul shares trim earlier gains late Wed. morning

Seoul shares trimmed earlier gains late Wednesday morning as financial shares fell sharply. After opening more than 0.5 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) had added 0.14 percent, or 3.69 points, to 2,646.47 as of 11:20 a.m. Financial shares limited the KOSPI's rise as the Korea Exchange's value-up index to be launched next week did not include financial groups. KB Financial slid 3.66 percent, and Shinhan Financial dropped 2.84 percent. Trading firm Samsung C and T and Samsung Life Insurance also plunged 4.98 percent and 5.31 percent, respectively. Home appliances maker LG Electronics also shot down 4.58 percent. On the other hand, tech behemoth Samsung Electronics and its chipmaking rival SK hynix advanced 1.11 percent and 2.51 percent, respectively, to reflect overnight tech gains on Wall Street. Top chemical producer LG Chem also jumped 3.47 percent. The local currency was trading at 1,328.20 won against the U.S. dollar, up 6.7 won from the previous session. S ource: Yonhap News Agency