Seoul: South Korean stocks traded more than 1.3 percent higher late Monday morning, driven by the strong performance of big-cap tech shares. The benchmark Korea Composite Stock Price Index had risen 34.16 points, or 1.34 percent, to 2,576.52 as of 11:20 a.m.

According to Yonhap News Agency, Wall Street finished higher on Friday (U.S. time), with the Dow Jones Industrial Average up 0.69 percent, the tech-heavy Nasdaq composite up 0.8 percent, and the S and P 500 up 0.41 percent, as blue chip tech shares, including Amazon, Intel, and Nvidia, gained ground. Investors’ attention is focused on the U.S. presidential election slated for Tuesday (local time) and the two-day Federal Open Market Committee meeting that opens Wednesday.

In Seoul, tech behemoth Samsung Electronics gained 1.2 percent, while its chipmaking rival SK hynix soared 3.9 percent. Top automaker Hyundai Motor climbed 1.87 percent, with its sister company Kia up 2.76 percent. Battery shares were also bullish, with industry leader LG Energy Solutio
n up 2.91 percent, and its smaller rivals — Samsung SDI and POSCO Future M — up 1.06 percent and 6.14 percent, respectively. Internet portal operator Naver also jumped 3.01 percent.

However, financial shares were weak, with KB Financial down 1.74 percent and Hana Financial down 1.64 percent. The local currency was trading at 1,372.80 won against the U.S. dollar, up 6.6 won from the previous session.