South Korean shares traded mildly lower late Friday morning, as foreigners sought to lock in their recent gains.

The benchmark Korea Composite Stock Price Index edged down 6.73 points, or 0.33 percent, to 2,033.87 as of 11:20 a.m.

Foreigners were net-sellers following a buying spree for the sixth consecutive session, while institutional traders were net-buyers.

Market sentiment was hit by the outcome of the European Central Bank's monetary policy meeting.

It left the key rate on hold, stopping short of offering a clue to its policy direction.

"The KOSPI is expected to remain in a tight range for the time being amid uncertainty involving the US presidential election to be held in two weeks and the growing possibility of a US interest rate hike in December," Kim Byung-yeon, an analyst at NH Investment & Securities, said.

Top cap Samsung Electronics was off 1.67 percent, while the state-run Korea Electric Power Corp. climbed 0.58 percent. Leading automaker Hyundai Motor and its smaller affiliate Kia Motors advanced 1.14 percent and 0.61 percent, respectively.

Steelmaking giant POSCO gained 0.84 percent. Naver, the No. 1 Internet service provider, declined 1.3 percent on the news of its leadership change.

The local currency was trading at 1,134.85 won against the US dollar, down 7.35 won from the previous session's close. (Yonhap)