Stocks extend losses late Mon. morning on chip profit-taking

Seoul stocks continued to decline late Monday morning, with investors locking in profits from major technology shares, particularly semiconductors. The Korea Composite Stock Price Index (KOSPI) fell 153.42 points, or 2.22%, to 6,759.53 at 11:18 a.m.

The index's downward trend was triggered by investor disappointment over Samsung Electronics' shareholder return plan. Analyst Kim Seok-hwan of Mirae Asset Securities noted that Samsung Electronics had announced a plan to distribute up to 110 trillion won in dividends and cash payouts in the third quarter.

Following the announcement, several key players in the market experienced losses. Samsung Electronics' shares dropped by 7.28%, while SK hynix fell by 0.64%. Hyundai Motor Group and KB Financial Group also saw declines of 1.08% and 1.64%, respectively. Even nuclear power plant builder Doosan Enerbility experienced a minor decline of 0.68%.

As of 11:20 a.m., the Korean won was trading at 1,377.5 won per U.S. dollar, marking an 8.5 won increase compared to the close of the previous trading session.