Seoul shares up 0.35 pct in late-morning trade

South Korean stocks traded 0.35 percent higher late Tuesday morning as some key exporters posted gains, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.08 points to 2,042.9 as of 11:20 a.m.

Tech shares such as Samsung Electronics and LG Display led the rise, gaining 1.08 percent and 1.14 percent each.

In contrast, leading steel mill POSCO slumped 2.52 percent after announcing its plan to consider selling affiliate POSCO Specialty Steel.

State-run power provider Korea Electric Power Corp. also declined 2.51 percent on speculation it will accelerate its share sale plan to reduce debt.

The local currency was trading at 1,034.85 won against the U.S. dollar as of 11:20 a.m., up 3.15 won from Monday's close. (Yonhap)