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Seoul shares turn lower after strong start

June 4, 2013 - 14:13 By KH디지털3

South Korean stocks turned lower late Tuesday morning after starting higher, as blue-chip tech and financial firms shifted to negative territory, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) slid 7.42 points, or 0.37 percent, to 1,982.15 as of 11:20 a.m.   

Tech giant Samsung Electronics fell 0.4 percent, with No. 4 banking group Shinhan Financial declining more than 1 percent.   

In contrast, steelmakers and heavy industries were bullish. Hyundai Steel, a major steelmaker, rose 1.7 percent, with Hyundai Heavy Industries, the world's biggest shipyard, jumping 2.3 percent.
The local currency was changing hands at 1,122.20 won against the greenback, up 6.1 won from Monday's close. (Yonhap News)