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Seoul shares down 0.49 % in late-morning trade

South Korean stocks traded 0.49 percent lower late Thursday morning, dragged down by a drop in top-cap tech and IT service companies, analysts said.

The benchmark Korea Composite Stock Price Index fell 11.22 points to 2,281.86 as of 11:20 a.m. 


Market behemoth Samsung Electronics was down nearly 1 percent, with Naver, the operator of the country's top search engine, losing 0.8 percent.

In contrast, shares of automakers and mobile carriers moved in positive territory. Top automaker Hyundai Motor soared more than 3 percent, and No. 1 mobile carrier SK Telecom was up 0.4 percent.

The local currency was changing hands at 1,125.00 won against the greenback, down 6.7 won from Wednesday's close. (Yonhap)