Seoul shares up 0.53 pct in late-morning trade

South Korean stocks traded 0.53 percent higher late Thursday morning, led by gains in state-run companies and shipyards, analysts said.
   
The benchmark Korea Composite Stock Price Index (KOSPI) shot up 9.93 points to 1,888.26 as of 11:20 a.m.
   
The state-run Korea Electric Power Corp. soared nearly 5 percent, with Hyundai Heavy Industries, the world's biggest shipyard, jumping more than 3 percent.
   
In contrast, telecom shares fell. Top player SK Telecom lost 1 percent, and LG Uplus slumped 3.5 percent.
   
The local currency was changing hands at 1,114.80 won against the greenback as of 11:20 a.m., up 3.9 won from Wednesday's close. (Yonhap News)