S. Korean shares edge down

South Korean stocks traded lower late Wednesday morning as foreign investors offloaded for the ninth straight trading session, despite the central bank announcing it will lower base rate to record low levels to help stimulate the economy. The benchmark Korea Composite Stock Price Index (KOSPI), which started in positive territory, lost momentum to stand at 1,928.84 as of 11:20 a.m., a dip of 0.42 point, or 0.02 per cent, from Tuesday' close. Tech giant Samsung Electronics, the world's largest handset maker, rose 1.06 per cent with chip giant SK hynix gaining 0.23 per cent. Global appliance manufacturer LG Electronics, on the other hand, surrendered 0.75 per cent. Stocks of top steelmaker POSCO was down 1.12 per cent, with the country's largest mobile carrier SK Telecom dropping 2.6 per cent, according to koreaherald.com