Stocks sharply down late Friday morning on Mideast uncertainties

Seoul stocks were trading sharply lower late Friday morning, as investors sat on the sidelines amid growing doubt over prospects for an end to the war between the United States and Iran. The benchmark Korea Composite Stock Price Index (KOSPI) fell 171.88 points, or 3.15 percent, to 5,288.58, as of 11:20 a.m. The U.S. stock market declined overnight on President Donald Trump's mixed signals about the progress of Washington's peace talks with Tehran. Trump said Iran had "better get serious soon, before it is too late," about the negotiations, but later softened his rhetoric, saying he was delaying the threat to hit Iranian energy infrastructure. In Seoul most large-cap shares lost ground, led by declines in semiconductors. Market top-cap Samsung Electronics declined 3.94 percent, while its chipmaking rival SK hynix shed 4.29 percent. The two semiconductor giants' decline is in line with their overseas peers, which declined overnight on concerns Google's new artificial intelligence (AI) algorithm could reduce chip demand. Top carmaker Hyundai Motor lost 3.01 percent, defense giant Hanwha Aeros

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