Seoul shares down 0.31% in late-morning trade

South Korean stocks traded 0.31 percent lower late Wednesday morning, weighed down by a drop in builders and logistics firms, analysts said.

The benchmark Korea Composite Stock Price Index fell 6.38 points to 2,038.27 as of 11:20 a.m.

Hyundai Glovis, the logistic unit of top automaker Hyundai Motor, plunged more than 7 percent following a lackluster earnings report released earlier. Major builder Daelim Industrial retreated nearly 4 percent.

In contrast, foodmakers trended higher. Confectionery maker Orion moved up 1.6 percent, and food manufacturer Ottogi rose more than 2 percent.

The local currency was changing hands at 1,132.10 won against the greenback as of 11:20 a.m., down 1.1 won from Tuesday's close. (Yonhap)