[THE INVESTOR] South Korean shares traded sharply higher late morning on Oct. 14 as both foreigners and institutional investors turned to buying.

The benchmark KOSPI added 11.02 points, or 0.55 percent, to 2,026.46 as of 11:20 a.m.

Both institutions and foreign investors were net buyers, a rather rare phenomenon last seen on Sept. 29. Retail investors were net sellers.

Most large caps were in positive terrain.

Samsung Electronics gained 0.51 percent, while global steelmaker POSCO spiked 1.76 percent.

Top automaker Hyundai Motor remained flat, while its smaller affiliate Kia Motors shed 1.19 percent.

Bank issues were among large gainers, with Shinhan Financial spiking 2.06 percent and KB Financial 2.44 percent.

The local currency was trading at 1,131.65 won against the US dollar, up 4.25 won from the previous session’s close.

(theinvestor@heraldcorp.com)