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Seoul stocks up late Monday morning on Wall Street gains

South Korean stocks traded higher late Monday morning, hitting their highest level in more than a month, as they tracked gains on Wall Street.

The benchmark Korea Composite Stock Price Index increased 23.61 points, or 0.99 percent, to 2,409.68 as of 11:20 a.m., after soaring to as high as 2,410.58 at one point.

On Friday, US stocks closed at fresh record highs, with the S&P 500 inching up to surpass the 2,500-point mark for the first time.

Most large caps improved, with market kingpin Samsung Electronics adding 2.38 percent and SK hynix, a major chipmaker, advancing 3.24 percent.

Naver, South Korea's top Internet portal operator, also gained 2.63 percent.

LG Chem, the country's top chemicals firm, meanwhile, lost 1.25 percent.

The local currency was trading at 1,127.50 won against the US dollar, up 4.20 won from the previous session's close. (Yonhap)