South Korean shares traded higher late Wednesday morning as foreign and institutional buyers scooped up big cap stocks amid a massive selling spree by individuals.

The benchmark Korea Composite Stock Price Index added 9.42 points, or 0.4 percent, to 2,353.10 as of 11:20 a.m.

The index opened lower on losses in market heavyweights, including market bellwether Samsung Electronics. However, the local index pared earlier losses as most market heavyweights turned higher.

Top cap Samsung Electronics advanced 0.76 percent, and SK hynix, a leading memory chipmaker, moved up 0.35 percent.

Auto shares were mixed with industry leader Hyundai Motor adding 0.65 percent, and its smaller affiliate Kia Motors increasing 0.77 percent. Top auto parts maker Hyundai Mobis, meanwhile, shed 2.67 percent.

The local currency was trading at 1,122.40 won against the US dollar as of 11:20 a.m., up 2.70 won from Tuesday's close. (Yonhap)