South Korean stocks traded 0.27 percent lower late Thursday morning on weak tech and chipmaking shares.

The benchmark Korea Composite Stock Price Index (KOSPI) had lost 6.95 points to 2,598.17 as of 11:20 a.m.

Overnight, Wall Street lost ground as investors awaited the U.S. consumer price index for July slated for Thursday (U.S. time), which will influence the Federal Reserve’s future rate-setting decision.

In Seoul, semiconductor and tech shares led the decline.

Samsung Electronics, the world’s largest memory chipmaker and smartphone producer, sank 1.45 percent and its smaller rival SK hynix fell 1.77 percent.

Local tech giants Naver and Kakao retreated 2.64 percent and 0.95 percent, respectively.

Game makers were mixed, with NCSOFT rising 0.19 percent and Netmarble dropping 1.6 percent.

Samsung Biologics, Samsung Group’s biotechnology affiliate, stayed flat, and SK Bioscience, a vaccine developing firm under the wing of SK Group, also remained unchanged.

The local currency was trading at 1,315.5 won against the U.S. dollar at 11:20 a.m., down 0.02 won from Wednesday’s close.

Source: Yonhap News Agency