Seoul shares open 2.4 pct higher on U.S. rescue plan

SEOUL, Nov. 26 (Yonhap) -- South Korean stocks started 2.36 percent higher
Wednesday as investors hailed the U.S. Federal Reserve's plan to revive the
credit markets, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 23.18 points to
1,006.5 in the first 15 minutes of trading.
The Fed unveiled a US$800 billion rescue plan on Tuesday to buy mortgage-backed
assets and help boost lending for consumers.
U.S. stocks closed mixed Tuesday as investors were heartened by the Fed's plan,
but dismal economic data weakened sentiment. The Dow Jones industrial average
added 0.43 percent while the tech-dominated Nasdaq composite index shed 0.5
percent.
The local currency was trading at 1,501.6 won to the U.S. dollar as of 9:15 a.m.,
up 0.7 won from Tuesday's close.
sooyeon@yna.co.kr
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