Seoul shares turned higher late Monday morning, as the U.S. Federal Reserve looks set to take a cautious stance in raising rates again.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.91 points, or 0.75 percent, to 2,538.05 as of 11:20 a.m.
On Friday, U.S. stocks ended higher, with the Dow Jones Industrial Average rising 0.7 percent and the tech-heavy Nasdaq Composite climbing 0.9 percent.
In his speech last week in Jackson Hole, Wyoming, Fed Chair Jerome Powell said bringing inflation back to its target still has a long way to go, but he hinted rates would remain unchanged in September.
Institutions and foreigners bought a combined 144 billion won (US$108 million) worth of stocks, offsetting individuals' stock selling valued at 134 billion won.
In Seoul, most large-cap stocks were mixed.
Market heavyweight Samsung Electronics Co. fell 0.6 percent, No. 2 chipmaker SK hynix Inc. dropped 0.1 percent, top carmaker Hyundai Motor Co. declined 0.4 percent and KG Mobility, formerly known SsangYong Motor Co., shed 0.2 percent.
Among gainers, national flag carrier Korean Air Co. rose 0.4 percent, leading steelmaker POSCO Holdings climbed 2.6 percent, leading battery maker LG Energy Solution gained 0.6 percent and cosmetics firm AmorePacific Corp. was up 4.6 percent.
The local currency was trading at 1,323.80 won against the U.S. dollar at 11:20 a.m., up 1.4 won from the previous session's close.
Source: Yonhap News Agency