Seoul: South Korean stocks traded slightly lower late Friday morning as investors sought after profits while searching for fresh momentum. The benchmark Korea Composite Stock Price Index (KOSPI) fell 7.1 points, or 0.22 percent, to 3,189.22 as of 11:20 a.m.
According to Yonhap News Agency, investors cashed in profits from recent gains, while revived confidence in technology shares limited downward pressure. Tech shares traded mixed, with top market cap Samsung Electronics adding 0.43 percent while No. 2 chipmaker SK hynix lost 0.19 percent. Pharmaceutical shares traded lower, with Samsung Biologics falling 0.99 percent and Celltrion losing 2.49 percent.
HD Hyundai Heavy, on the other hand, added 3.58 percent, while leading carmaker Hyundai Motor moved down 0.45 percent. The local currency was trading at 1,386.9 won against the U.S. dollar at 11:20 a.m., down 0.7 won from the previous session.