Seoul shares up 0.27 pct in late-morning trade

South Korean stocks traded 0.27 percent higher late Monday morning as foreign investors scooped up local shares, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 5.25 points to 1,963.04 as of 11:20 a.m.

Mobile carriers led the market gain, with leading SK Telecom increasing 2.94 percent and No. 2 player KT moving up 4.17 percent.

No. 3 player LG Uplus climbed 3.91 percent.

Shipbuilders also traded higher, with Daewoo Shipbuilding & Marine Engineering rising 0.17 percent and Samsung Heavy Industries gaining 0.53 percent.

The local currency was changing hands at 1,088.65 won to the greenback as of 11:20 a.m., up 8.75 won from Friday's close. (Yonhap News)