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Korean shares down 0.07% in late morning trade

South Korean stocks narrowed losses Tuesday, as extended gains in Samsung Electronics helped prop up the main index.

The benchmark Korea Composite Stock Price Index lost 1.51 points, or 0.07 percent, to 2,166.00 as of 11:15 a.m.

The decline followed overnight losses on Wall Street. The Dow Jones industrial average lost 0.06 percent, with the tech-heavy Nasdaq composite index declining 0.29 percent.

Kim Ye-eun, an analyst at Cape Investment & Securities, said gains in Samsung Electronics helped narrow earlier losses in the main index.

Market bellwether Samsung Electronics rose 1.54 percent, and No. 2 chipmaker SK hynix Inc. was up 0.19 percent.

Meanwhile, state-run utility firm Korea Electric Power Corp. declined 2.03 percent, and top automaker Hyundai Motor was down 2.24 percent.

The local currency was trading at 1,117.25 won against the US dollar, down 1.95 won from the previous session's close. (Yonhap)

Korea Herald daum