[THE INVESTOR] South Korean shares had seen a decline of 0.24 percent in late morning trade Aug. 26, as foreign investors continued to sell for a third consecutive session.

The benchmark KOSPI lost 4.95 points to 2,037.97 as of 11:20 a.m.

The index opened sharply lower following overnight losses on Wall Street. The Dow Jones Industrial Average closed 0.18 percent lower at 18,448.41 on Thursday, with the tech-laden NASDAQ also slipping 0.11 percent to 5,212.20.

Foreigners offloaded a net 73.4 billion won (US$65.96 million) as of 11:20 a.m., while institutions and retail investors purchased 61.5 billion won and 13.38 billion won, respectively.

Large caps traded mixed.

Market bellwether Samsung Electronics plunged 1.34 percent, while local industry leader Hyundai Motor slipped 0.37 percent.

Top portal operator Naver, on the other hand, gained 0.12 percent, with top life insurer Samsung Life Insurance spiking 1.47 percent.

The local currency was trading at 1,113.4 won against the US dollar, strengthening 2.5 won from Thursday’s close.

(theinvestor@heraldcorp.com)