Seoul shares turn lower late Wed. morning

South Korean stocks turned lower after starting marginally higher late Wednesday morning, led by the fall in major tech and IT blue-chips.

After starting a tad higher at the opening bell, the benchmark Korea Composite Stock Price Index (KOSPI) declined 6.95 points, or 0.27 percent, to 2,529.63 at around 11:20 a.m.

Market bellwether Samsung Electronics lost 0.14 percent, and top battery maker LG Energy Solution dipped 0.7 percent.

Steel giant POSCO Holdings went down 1.47 percent and its materials unit POSCO Future M fell 1.64 percent.

Leading chemical producer LG Chem retreated 2.86 percent, and leading energy company SK Innovation slid 4.19 percent.

Internet portal operator Naver lost 0.91 percent, and Kakao, the operator of popular mobile messenger, dropped 1.96 percent.

In contrast, automakers trended in positive terrain, with Hyundai Motor adding 1.45 percent and its smaller affiliate Kia gaining 0.51 percent. Hyundai Mobis, Hyundai Motor's auto parts affiliate, also advanced 1.08 percent.

The financial sector also gained ground.

KB Financial Group rose 1.46 percent, Shinhan Financial group gained 1.94 percent, and Hana Financial Group went up 1.97 percent.

Home appliances maker LG Electronics also jumped 3.54 percent.

The local currency was changing hands at 1,327.40 won against the greenback at around 11:20 a.m., up 0.4 won from Tuesday's close.

Source: Yonhap News Agency