South Korean shares traded higher late Monday morning as institutional buyers scooped up big cap stocks amid a massive selling spree by foreigners.

The benchmark Korea Composite Stock Price Index added 6.35 points, or 0.28 percent, to 2,293.37 as of 11:20 a.m.

The index opened lower on losses in market heavyweights, including market bellwether Samsung Electronics. However, the local index pared earlier losses as most market heavyweights turned higher.

Top cap Samsung Electronics added 0.74 percent, and SK hynix, the world's second-largest memory chipmaker, was up 0.54 percent.

Industry leader Hyundai Motor, meanwhile, lost 0.65 percent, and its smaller affiliate Kia Motors shed 0.82 percent. Top auto parts maker Hyundai Mobis also declined 0.2 percent.

The local currency was trading at 1,126.00 won against the US dollar as of 11:20 a.m., up 1.40 won from Friday's close. (Yonhap)