South Korean stocks traded lower late Friday morning as investors continued to sit on the sidelines ahead of major events, with technology and financial shares leading the overall decline. The benchmark Korea Composite Stock Price Index (KOSPI) dropped 13.27 points, or 0.49 percent, to 2,694.4 as of 11:20 a.m. After the market hours, U.S. Federal Reserve Chair Jerome Powell is set to deliver a speech at the Jackson Hole meeting, which will give clues on the Fed's monetary policy direction. Tech shares continued to trade bearish, with Samsung Electronics falling 0.89 percent and No. 2 chipmaker SK hynix decreasing 1.94 percent. KB Financial decreased 1.97 percent, and Shinhan Financial lost 1.02 percent. Samsung Life Insurance moved down 0.52 percent. Leading carmaker Hyundai Motors added 0.6 percent and its sister Kia climbed 1.07 percent. Auto parts maker Hyundai Mobis remained unchanged. The local currency was trading at 1,340.9 won against the U.S. dollar, down 6.2 won from the previous session's cl ose. Source: Yonhap News Agency