Korean shares down 0.58% in late morning trade

South Korean stocks extended losses late Thursday morning as foreign investors and institutions offloaded local stocks.

The benchmark Korea Composite Stock Price Index lost 12.57 points, or 0.58 percent, to 2,148.28 as of 11:15 a.m.

The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.20 percent, with the tech-heavy Nasdaq composite index declining 0.58 percent.

Most large-cap stocks were mixed across the board.

SK Telecom, the No. 1 mobile carrier in the country, gained 0.40 percent while Shinhan Financial Group was up 0.42 percent.

Meanwhile, market bellwether Samsung Electronics fell 0.81 percent, and No. 2 chipmaker SK hynix Inc. was down 1.79 percent.

The local currency was trading at 1,131.25 won against the US dollar, down 6.85 won from the previous session's close. (Yonhap)