Seoul shares up 0.62 pct in late morning trade

South Korean stocks traded 0.62 percent higher late Friday morning as investors snapped up shares of major exporters, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) jumped 12.7 points to 2,060.44 as of 11:20 a.m.

Techs led the gain with chip giant SK hynix advancing 1.98 percent.

Shares of Hyundai Motor Group returned to the positive, paring some of the losses it posted on Thursday. Hyundai Motor edged up 0.51 percent and its sister company Kia Motors rose 2.02 percent.

The automotive group had pulled down the KOSPI in the previous session as its 10.55 trillion won (US$10.11 billion) property deal stoked investor fears on the financial burden.

The local currency was trading at 1,045.95 won against the greenback as of 11:20 a.m., down 2.55 won from Thursday's close. (Yonhap)