Seoul stocks open higher on banking rallies

SEOUL, Feb. 9 (Yonhap) -- South Korean stocks got off to a strong start Tuesday, led by banking rallies, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 5.41 points, or 0.35
percent, to trade at 1,558.2 in the first 15 minutes of trading.
Banking issues led the KOSPI gains as institutional investors hunted for bargains
after European debt problems and financial woes at Kumho Asiana Group beat down
the sector in recent sessions.
Key financial firms including KB Financial Group and Woori Finance Holdings were
also set to release fourth-quarter earnings results later this week.
The local currency was trading at 1,169.30 won to the U.S. dollar as of 9:15
a.m., up 2.60 won from Monday's close.
pbr@yna.co.kr
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