Seoul shares down late Fri. morning amid profit taking

South Korean shares extended losses late Friday morning as investors continued to cash in profit from the previous session's sharp gain. The benchmark Korea Composite Stock Price Index had decreased 8.27 points, or 0.3 percent, to 2,746.59 as of 11:20 a.m.. Top tech giant Samsung Electronics slipped 1.64 percent, while No. 2 chipmaker SK hynix gained 0.41 percent. Carmakers traded sharply lower, with Hyundai Motors falling 3.37 percent and Kia losing 2.51 percent. Auto parts maker Hyundai Mobis moved down 1.13 percent. Chemical shares traded higher, with LG Chem rising 2.62 percent and oil refiner SK Innovation gaining 0.67 percent. The local currency was trading at 1,338.8 won against the U.S. dollar, up 17.4 won from the previous session's close. Source: Yonhap News Agency