South Korean shares trimmed earlier gains late Monday morning as foreigners sold off more shares. The won rose against the dollar.

The benchmark Korea Composite Stock Price Index rose 7.10 points, or 0.30 percent, to 2,362.10 as of 11:20 a.m.

Foreigners and individuals sold a combined 40 billion won ($37 million) worth of stocks, weighing down the main index. Institutions bought 29 billion won worth of shares. 

A strong rally in the KOSPI index is not expected this week as investors remain cautious as they await cues from the US Federal Reserve's annual economic policy symposium in Jackson Hole, Wyoming.

Large-cap stocks were mixed across the board, with market bellwether Samsung Electronics Co. rising 0.30 percent and top carmaker Hyundai Motor Co. falling 1.69 percent.

No. 2 chipmaker SK hynix Inc. climbed 0.89 percent and leading chemical firm LG Chem Ltd. was up 3.01 percent. But No. 2 carmaker Kia Motors Corp. slid 0.28 percent and dominant auto parts maker Hyundai Mobis Co. was down 0.99 percent.

The local currency was trading at 1,136.00 won against the US dollar, up 3.00 won from the previous session's close. (Yonhap)