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Korean shares up in late morning trading

South Korean shares traded higher late Monday morning as local institutional investors snatched up market heavyweights amid signs of abating tension between North Korea and the United States.

The benchmark Korea Composite Stock Price Index gained 11.72 points, or 0.51 percent, to 2,331.43 as of 11:20 a.m.

(Yonhap)
(Yonhap)

Large caps traded mixed with market kingpin Samsung Electronics adding 0.85 percent, and global chipmaker SK hynix up 3.91 percent.

AmorePacific, the largest cosmetics maker, declined 0.18 percent.

Top automaker Hyundai Motor rose 1.76 percent, and its smaller affiliate Kia Motors traded 1.85 percent higher.

POSCO, the No. 1 steelmaker, advanced 1.89 percent.

The local currency was trading at 1,137.60 won against the US dollar, up 5.9 won from the previous session's close. (Yonhap)

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