Seoul shares up 0.04 pct in late-morning trade

South Korean stocks traded 0.04 percent higher late Monday morning, the last day of trading, as bank shares and carmakers gained ground, analysts said.

After trading in a tight range, the benchmark Korea Composite Stock Price Index (KOSPI) rose 0.72 points to 2,003 as of 11:20 a.m.

Bank shares and carmakers gained ground. Top banking group Woori Finance rose 3.52 percent and industry leader Hyundai Motor gained 1.96 percent.

But market leader Samsung Electronics shed 2.01 percent, and chip giant SK hynix fell 0.68 percent.

The local currency was changing hands at 1,055.35 won against the greenback, down 1.45 won from Friday's close.

The Korean currency appreciated against the yen by breaching a psychologically important level of 1,000 won in the morning session.

The local currency was trading at 1,001.14 won to 100 yen as of 11:20 a.m., up 0.86 won from Friday's close. The greenback serves as the benchmark for the won-yen cross rate.

The finance ministry expressed concern about the sharp advance of the won against the yen, adding that it is mulling measures to support smaller exporters, which are vulnerable to currency volatility. (Yonhap News)