Seoul shares up 0.24 pct in late-morning trade

SEOUL, July 7 (Yonhap) -- South Korean stocks traded 0.24 percent higher late Thursday morning, fueled by firm gains in automakers and shipbuilders, analysts said. Reversing earlier losses, the benchmark Korea Composite Stock Price Index (KOSPI) climbed 5.11 points to 2,176.3 as of 11:20 a.m. Automakers drove up the KOSPI with Hyundai Motor and its auto parts affiliate Hyundai Mobis both gathering ground. Hyundai Heavy Industries, the world's top shipyard, also gained nearly 2 percent. In contrast, techs underperformed the market, led by falls in the two major players, Samsung Electronics and LG Electronics. The local currency was changing hands at 1,064.45 won to the greenback as of 11:20 a.m., down 1.05 won from Wednesday's close.