South Korean stocks traded higher late Monday morning, taking a cue from gains in the U.S. stock market, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 0.12 percent, or 2.71 points, to 2,034.35 as of 11:20 a.m.
Major blue-chip stocks remained in positive terrain with top market cap Samsung Electronics gaining 0.93 percent.
Industry leader Hyundai Motor rose 1.87 percent and its smaller affiliate Kia Motors moved up 0.57 percent. The two automakers had slumped after they won a prime real estate deal in Seoul for 10.55 trillion won (US$10.1 billion), raising concerns that the contract is too expensive.
SK hynix, a global chipmaker, jumped 3.73 percent on expectations that its third-quarter earnings would leap on strong chip prices.
Naver, the country's top Internet portal operator, advanced 3.41 percent.
In contrast, POSCO, the nation's largest steelmaker, shed 4.08 percent.
The local currency was trading at 1,049.50 won against the U.S. dollar as of 11:20 a.m., down 5.1 won from Friday's close.
The U.S. stock market closed higher on Friday with the Dow Jones Industrial Average rising 0.99 percent to 17,113.15, on strong economic data and corporate earnings. (Yonhap)