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Korean shares up late morning despite Wall Street losses

South Korean shares advanced late Tuesday morning, despite the overnight decline on Wall Street, as institutions' buying offset a selling binge by foreign and retail investors.

The benchmark Korea Composite Stock Price Index rose 11.08 points, or 0.47 percent, to 2,368.87 as of 11:20 a.m.

Most large caps traded mixed, with market kingpin Samsung Electronics rising 0.13 percent and global chipmaker SK hynix losing 0.17 percent. Naver, the operator of the country's top Internet portal, added 0.11 percent. LG Display, a major flat panel maker, jumped 4.87 percent, and LG Chem, the No. 1 chemical firm, gained 0.86 percent.

The local currency was trading at 1,129.65 won against the US dollar, down 2.65 won from the previous session's close. (Yonhap)