Seoul shares down 0.25 pct in late-morning trade

South Korean stocks turned lower late Wednesday morning after opening higher, as foreigners opted to dump local shares on a net selling mode, analysts said.
   
The Korea Composite Stock Price Index (KOSPI) fell 4.88 points to 1,917.33 as of 11:20 a.m.
  
Heavy industries and construction companies plunged, with Doosan Heavy Industries nosediving more than 10 percent and No. 1 Hyundai Engineering & Construction tumbling around 6 percent.
   
In contrast, utilities and telecom shares trended in positive terrain. State-run electricity provider Korea Electric Power Corp. rose almost 3 percent and smallest mobile carrier LG Uplus soared 4 percent.
   
The local currency also erased its earlier gains against the greenback, changing hands at 1,115.05 won as of 11:20 a.m., up 0.05 won from Tuesday's close. (Yonhap)