Seoul shares down 0.44 pct in late-morning trade

South Korean stocks traded 0.44 percent lower late Monday morning due to losses in techs and logistics, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) dropped

8.76 points to 1,977.74 as of 11:20 a.m.

Tech blue chips led the decline, with market behemoth Samsung Electronics falling 2.43 percent and top flat panel manufacturer LG Display losing 0.16 percent. Leading plasma display panel maker Samsung SDI shed 0.71 percent.

Logistics shares also traded lower, with Hyundai Glovis decreasing 3.27 percent and Hyundai Merchant Marine sliding 1.97 percent. Korean Air Lines lost 1.3 percent.

The local currency was trading at 1,114.70 won against the U.S.

dollar as of 11:20 a.m., down 4.40 won from Friday's close. (Yonhap News)