Seoul shares down on foreign, institutional selling

South Korean stocks traded lower late Thursday morning as foreign investors and institutions offloaded large-cap stocks in an apparent move to lock in profits.

The benchmark Korea Composite Stock Price Index lost 3.99 points, or 0.17 percent, to 2,343.39 as of 11:20 a.m.

Most large caps traded mixed with market kingpin Samsung Electronics inching down 0.27 percent after opening higher. SK hynix, a major chipmaker, also shed 1.05 percent.

The state-run Korea Electric Power Corp., meanwhile, gained 3.16 percent. Leading automaker Hyundai Motor added 1.23 percent.

The local currency was trading at 1,119.7 won against the US dollar, down 0.2 won from the previous session's close. (Yonhap)