Seoul shares up 0.26 pct in late-morning trade

SEOUL, June 13 (Yonhap) -- South Korean stocks traded 0.26 percent higher late Monday morning, fueled by firm gains in shipbuilders and automakers, analysts said.
After opening lower, the benchmark Korea Composite Stock Price Index (KOSPI) rose 5.27 points to 2,051.94 as of 11:20 a.m.
Gains were led by major shipbuilders and automakers. Hyundai Heavy Industries, the world's No. 1 shipyard, jumped nearly 3 percent and top automaker Hyundai Motor added more than 1 percent.
Insurers were also bullish on hopes the Bank of Korea's recent rate hike would benefit their profits. Samsung Fire & Marine Insurance advanced nearly 3 percent.
In contrast, techs traded in negative territory with LG Display dropping over 1 percent.
The local currency was changing hands at 1,085.95 won to the greenback as of 11:20 a.m., down 3.35 won from Friday's close.
mil@yna.co.kr