Seoul: South Korean stocks traded higher late Thursday morning, propelled by increases in battery and shipbuilding shares. The benchmark Korea Composite Stock Price Index (KOSPI) had gained 17.38 points, or 0.6 percent, reaching 2,924.42 as of 11:20 a.m.

According to Yonhap News Agency, the KOSPI rose for the sixth consecutive session, achieving a three-year high in the previous session due to a continuous buying spree by foreign investors. However, foreign investors turned to net sellers on Thursday morning, selling 16.7 billion won (US$12.2 million) worth of local shares to lock in profits.

Retail investors also sold off 45.6 billion won, while institutions stepped in to purchase 61.9 billion won. Battery and shipbuilding shares were the primary drivers of the KOSPI’s rise. Leading battery manufacturer LG Energy Solution increased by 2.91 percent, with smaller competitors Samsung SDI and POSCO Future M climbing 0.98 percent and 5.16 percent, respectively.

In the shipbuilding sector, major companies saw notable gains. HD Hyundai Heavy rose by 1.91 percent, Hanwha Ocean surged by 6.93 percent, and HD Korea Shipbuilding experienced a 0.89 percent increase. Defense giant Hanwha Aerospace advanced 1.44 percent, while major nuclear power plant manufacturer Doosan Enerbility jumped 5.87 percent.

The automotive sector also showed positive movement, with top automaker Hyundai Motor adding 0.5 percent and its sister company Kia rising 1.75 percent. However, tech giant Samsung Electronics saw a decline of 0.67 percent, while its chipmaking rival SK hynix gained 0.42 percent.

The local currency was trading at 1,367.3 won against the US dollar at 11:20 a.m., up 7.7 won from the previous session.