South Korean stocks extended losses late Friday morning amid expectations over a delay in U.S. interest rate cuts this year. The Korean won fell sharply against the greenback.The benchmark Korea Composite Stock Price Index had sank 79.07 points, or 3 percent, to 2,555.63 as of 11:20 a.m.After rebounding in the previous session as investors scooped up bargains after four straight sessions of decline, Seoul shares again started weaker as market watchers betted on a delay in the U.S. rate cut.The market also extended losses during the morning on media reports saying Israel launched an attack on a target in Iran amid the escalating geopolitical tension in the Middle East.Shares lost ground across nearly all sectors, with top tech giant Samsung Electronics falling 4.02 percent and No. 2 chipmaker SK hynix losing 6.64 percent.KB Financial decreased 2.81 percent, and Shinhan Financial slid 1.91 percent.Pharmaceutical companies were also among the major losers, with Samsung Biologics plunging 2.28 percen t and Celltrion moving down 3.22 percent.Amid the geopolitical tension, South Korea's top air carrier Korean Air Lines dipped 2.43 percent and Asiana Airlines plunged 3 percent. Jeju Air and Jin Air moved down 3 percent and 2.01 percent, respectively.The local currency was trading at 1,391.2 won against the greenback, down 18.3 won from the previous session's close.Source: Yonhap News Agency