Seoul shares down 0.52 pct late Tue. morning

SEOUL, South Korean stocks traded lower late Tuesday morning ahead of major economic events in the United States. The benchmark Korea Composite Stock Price Index had lost 14.63 points, or 0.52 percent, to 2,789.68 as of 11:20 a.m. U.S. labor market data and the Federal Reserve minutes will be released later this week, giving latest clues about the interest rate outlook. In Seoul, most shares traded bearish. Major home appliances maker LG Electronics dropped 1.73 percent, and the state-run Korea Gas Corp. tumbled 9.71 percent. Leading FandB company CJ Cheiljedang retreated 0.95 percent, and cosmetics giant Amorepacific sank 4.79 percent. Leading battery maker LG Energy Solution stayed flat after a deal to supply lithium iron phosphate batteries for Renault S.A.'s electric vehicles. The local currency was trading at 1,388.4 won against the U.S. dollar, down 9.1 won from the previous session's close. Source: Yonhap News Agency