South Korean stocks traded almost flat late Wednesday morning as investors continued to take a wait-and-see approach on the U.S. monetary policy meeting slated for next week, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) shed 1.64 points, or 0.08 percent, to 1,991.81 as of 11:20 a.m.

Tech shares continued to trade mixed, with Samsung Electronics losing 0.62 percent while its smaller rival LG Electronics climbed 0.82 percent. Flat panel maker LG Display added 1.21 percent.

Mobile carriers traded bullish, with SK Telecom rising 1.1 percent and KT adding 2.34 percent. LG Uplus, the smallest player, moved up 4.3 percent.

The local currency was trading at 1,050.85 won to the U.S. dollar as of 11:20 a.m., up 1.35 won from Tuesday's close. (Yonhap News)