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Seoul shares tad higher in late Wednesday morning trading

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

The benchmark Korea Composite Stock Price Index inched up 1.73 points, or 0.07 percent, to 2,367.2 as of 11:20 a.m.

The index initially opened lower on losses in market heavyweights despite overnight Wall Street gains. However, the local index pared earlier losses as most market heavyweights turned higher.

Top cap Samsung Electronics advanced 1.23 percent after opening lower, and SK hynix, a leading memory chipmaker, moved up 2.68 percent to extend a fourth day winning streak.

The local currency was trading at 1,126.4 won against the US dollar as of 11:20 a.m., up 2.1 won from Tuesday's close. (Yonhap)
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Korea Herald daum