Seoul: South Korean stocks traded slightly lower late Friday morning as losses from chips were offset by gains from battery shares. The benchmark Korea Composite Stock Price Index (KOSPI) had lost 1.20 points, or 0.05 percent, to 2,554.95 as of 11:20 a.m.

According to Yonhap News Agency, market bellwether Samsung Electronics fell 0.51 percent, and its chipmaking rival SK hynix dropped 1.5 percent. Korea Zinc, suffering a fierce management battle, declined 0.9 percent, and F and B giant Nongshim dipped 0.93 percent. However, battery shares showed strength as industry leader LG Energy Solution rose 1.72 percent, and Samsung SDI gained 0.92 percent.

Top oil refinery SK Innovation saw a significant jump of 4.77 percent after merging with its affiliate SK E and S Co. Meanwhile, the local currency was trading at 1,377.5 won against the U.S. dollar, up 2.4 won from the previous session.