Korean shares down 0.61% in late morning trade

South Korean shares were down 0.61 percent late Friday morning on sell-offs by foreign and institutional investors.

The benchmark Korea Composite Stock Price Index lost 11.97 points to 1,962.11 as of 11:20 a.m.

The index got off on an upbeat note, but pared earlier gains after foreigners and institutions turned to selling on profit-taking.

Most large caps were in negative terrain, while top cap Samsung Electronics remained one of the few gainers, advancing 0.90 percent.

Leading automaker Hyundai Motor lost 0.76 percent, while cosmetics giant AmorePacific plunged 2.72 percent.

Most tech issues, one the other hand, were in positive terrain, one day after Samsung Electronics, the world's largest smartphone producer, said its second-quarter operating profit was estimated at 8.1 trillion won, exceeding market consensus of 7.34 trillion won.

Global chipmaker SK hynix added 0.49 percent Friday morning, while Samsung SDS, an IT affiliate of Samsung Electronics, spiked 2.55 percent.

The local currency was trading at 1,158.90 won against the U.S. dollar, down 4.30 won from previous session's close. (Yonhap)