Seoul: South Korean stocks traded slightly lower late Thursday morning due to mixed performances by large-cap shares. The benchmark Korea Composite Stock Price Index (KOSPI) shed 4.62 points, or 0.14 percent, to 3,219.75 as of 11:20 a.m.

According to Yonhap News Agency, the index opened slightly higher on rising hopes for a U.S. interest rate cut but turned negative, weighed down by losses in semiconductor and pharmaceutical shares. Market bellwether Samsung Electronics slipped 0.35 percent, while its chipmaking rival SK hynix fell 2.34 percent. Major pharmaceutical firms Samsung Biologics and Celltrion lost 0.67 percent and 0.62 percent, respectively.

Shipbuilders traded mixed, with HD Korea Shipbuilding and Offshore Engineering retreating 1.71 percent, while Hanwha Ocean rose 0.66 percent. Food giant CJ Cheiljedang saw a rise of 0.64 percent, but Samyang Foods, an instant noodle maker well known for its global hit Buldak ramyeon, declined 2.55 percent. The local currency was trading at 1,384.2 won against the U.S. dollar at 11:20 a.m., down 2.5 won from the previous session.