Seoul shares near 2,020-level in late morning trade

South Korean stocks hit their highest level in more than five months on foreign buying late Thursday morning, as U.S. Federal Reserve's minutes reassured investors that policymakers will continue to support the world's largest economy, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) added 11.24 points, or 0.56 percent, to 2,019.57 as of 11:20 a.m.

Tech shares traded mixed. Top market cap Samsung Electronics fell 0.14 percent, while its smaller rival LG Electronics added 1.02 percent. Memory chip giant SK hynix spiked 1.67 percent, after hitting a 52-week high in early trade.

Automakers gained ground, with top automaker Hyundai Motor inching up 0.65 percent and its smaller affiliate Kia Motors inclining 0.67 percent.

SK Innovation, the owner of the nation's top refiner SK Energy, climbed 3.6 percent and Hyundai Heavy Industries, the world's largest shipbuilder, went up 3.23 percent.

U.S. stocks closed higher Wednesday after the minutes from the Federal Open Market Committee meeting on April 30 suggested increasing optimism over the world's No. 1 economy, though they offered little new insight on the direction of U.S. monetary policy.

The Dow Jones industrial average climbed 0.97 percent, the biggest gain in five weeks, and the tech-laden NASDAQ composite index increased 0.85 percent.

The local currency was trading at 1,025.15 won to the U.S. dollar as of 11:20 a.m., up 1.75 won from Wednesday's close. (Yonhap)