South Korean stocks traded lower late Friday morning, led by big-cap tech losses on profit taking, as quicker-than-expected U.S. inflation stoked concerns about the Federal Reserve's continued aggressive monetary tightening policies.
The benchmark Korea Composite Stock Price Index (KOSPI) had lost 17.75 points, or 0.72 percent, to 2,462.07 as of 11:20 a.m.
The index opened lower, tracking overnight Wall Street losses, and had remained weak on foreign and institutional selling.
On Thursday (local time), the U.S. consumer price index rose at a quicker-than-expected rate of 3.7 percent on-year in September, which raised speculation that the Fed will deliver another rate increase this year. The inflation data also brought up bond yields.
In Seoul, big-cap tech shares lost ground on the Seoul bourse.
Market bellwether Samsung Electronics fell 1.31 percent following recent sharp gains, and leading battery maker LG Energy Solution tumbled 2.13 percent.
But chip giant SK hynix added 1.45 percent.
POSCO Holdings decreased 0.19 percent, and Samsung SDI went down 0.56 percent.
Top automaker Hyundai Motor decreased 0.34 percent, and Kia remained unchanged.
Bio shares lost ground. Major biotech firm Samsung Biologics fell 0.55 percent, and Celltrion shed 0.28 percent.
The local currency was changing hands at 1,349.0 won against the U.S. dollar as of 11:20 a.m., down 10.5 won from the previous session's close.
Source: Yonhap News Agency