ID :
27219
Wed, 10/29/2008 - 12:00
Auther :
Shortlink :
https://www.oananews.org//node/27219
The shortlink copeid
Seoul shares soar on U.S. gains
SEOUL, Oct. 29 (Yonhap) -- South Korean stocks kicked off sharply higher Wednesday as foreign investors went on a buying spree after a strong overnight rally on Wall Street, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 54.05 points, or
5.41 percent, to 1,053.21 in the first 15 minutes of trading.
Wall Street marked its second-best percentage-based performance ever on Monday on
hopes that central banks worldwide will cut rates even further. The Dow Jones
industrial average climbed 10.88 percent, and the tech-dominated Nasdaq composite
index also advanced 9.53 percent.
The local currency was trading at 1,407 won to the U.S. dollar as of 9:15 a.m.,
surging 67.8 won from Tuesday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 54.05 points, or
5.41 percent, to 1,053.21 in the first 15 minutes of trading.
Wall Street marked its second-best percentage-based performance ever on Monday on
hopes that central banks worldwide will cut rates even further. The Dow Jones
industrial average climbed 10.88 percent, and the tech-dominated Nasdaq composite
index also advanced 9.53 percent.
The local currency was trading at 1,407 won to the U.S. dollar as of 9:15 a.m.,
surging 67.8 won from Tuesday's close.
