Seoul stocks up 1.36 pct late morning

SEOUL, Feb. 17 (Yonhap) -- South Korean stocks traded 1.36 percent higher in late
Wednesday morning, led by massive foreign buying, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 21.7 points to
trade at 1,622.75 as of 11:20 a.m.
Powerful purchases in tech and banking sectors by overseas investors sent the key
index sharply higher following solid overnight gains on the Wall Street stock
markets.
STX Pan Ocean, however, tumbled more than 3 percent on reports that the biggest
bulk shipper is seeking to take over Daewoo Engineering & Construction, the
country's fourth-largest builder controlled by financially troubled Kumho Asiana
Group.
The local currency was trading at 1,143.80 won to the U.S. dollar as of 11:20
a.m., up 7.50 won from Tuesday's close after solid foreign equity buying whetted
demand for the South Korean won.
pbr@yna.co.kr
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