[THE INVESTOR] Foreign investors and institutions looked to lock in early gains, sending South Korean shares down 0.54 percent in late morning trade Aug. 22.

The benchmark KOSPI lost 11.08 points to 2,045.16 as of 11:20 a.m.

The index opened slightly low, apparently tracking losses on Wall Street last week.

On Friday, the Dow Jones industrial average closed at 18,552.57, shedding 0.24 percent.

The decline in the KOSPI accelerated as foreign and institutional investors turned to selling in an apparent attempt to cash in on their gains.

Top cap Samsung Electronics retreated 0.24 percent from a record high of 1,675,000 won (US$1,490).

Other large caps traded mixed.

Local industry leader Hyundai Motor shed 0.38 percent, while its smaller affiliate Kia Motors advanced 0.61 percent.

Top internet portal operator Naver plunged 1.12 percent, but global chipmaker SK hynix gained 0.56 percent.

The local currency was trading at 1,124.70 won against the US greenback, weakening 7.10 won from the previous session’s close.

(theinvestor@heraldcorp.com)