Seoul: South Korean stocks extended their losses late Friday morning as rising tensions in the Middle East sapped investors' risk appetite. The benchmark Korea Composite Stock Price Index (KOSPI) had lost 27.08 points, or 0.93 percent, to 2,892.95 as of 11:20 a.m.

According to Yonhap News Agency, overnight, Wall Street closed higher on reduced inflationary pressure and stable interest rates. The Dow Jones Industrial Average gained 0.24 percent, the tech-heavy Nasdaq composite rose 0.24 percent, and the S and P 500 added 0.38 percent. However, news that Israel conducted a preemptive strike on Iran made investors unload stocks in the KOSPI, with foreigners selling 41.6 billion won (US$30.5 million) worth of local shares and institutions dumping 467.6 billion won.

Investors were also paying attention to the possible impact of U.S. President Donald Trump's administration's plan to add imported household appliances, such as dishwashers, washing machines, and refrigerators, to the expanded steel tariff scheme set to take effect later this month. In Seoul, tech behemoth Samsung Electronics dipped 2.1 percent, and its rival home appliance maker LG Electronics sank 3.46 percent, reflecting market concerns about the Trump administration's planned expansion of steel derivative tariffs.

Top automaker Hyundai Motor and its sister company Kia went down 1.49 percent and 1.63 percent, respectively. Leading battery maker LG Energy Solution slid 3.7 percent. Bio shares were also weak, with Samsung Biologics down 1.27 percent and Celltrion down 2.5 percent.

On the other hand, major chipmaker SK hynix went up 1.27 percent, and Kakao, the operator of the country's dominant mobile messenger, climbed 1.78 percent. Major shipbuilders also gained ground, with both HD Hyundai Heavy and HD Korea Shipbuilding jumping 2.5 percent.

The local currency was trading at 1,362.9 won against the greenback at 11:20 a.m., down 4.2 won from the previous session.