System error briefly disrupts Seoul stock trading; KOSPI up 0.9 pct

South Korean stocks traded nearly 1 percent higher late Monday morning, led by gains in bullish battery makers and large-cap IT service companies.

The benchmark Korea Composite Stock Price Index (KOSPI) had risen 24.25 points, or 0.93 percent, to 2,632.57 as of 11:15 a.m.

The stock markets were operating normally after an unidentified system error at Koscom Corp. brought all stock trading to a halt for about 10 minutes shortly after the opening bell.

Koscom, the developer and operator of the local stock exchange trading systems, said it was working to figure out the cause.

Top battery maker LG Energy Solution was up more than 3 percent. Internet portal provider Naver soared nearly 7 percent.

Leading chemical company LG Chem also rose 0.5 percent.

Tech behemoth Samsung Electronics remained in negative territory, falling 0.3 percent. Automaker Kia also lost about 1 percent.

The local currency was changing hands at 1,270.4 won against the greenback at 11:15 a.m., up 6.6 won from Friday's close.

Source: Yonhap News Agency

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