Seoul stocks up 2.06 pct in late morning

SEOUL, Jan. 19 (Yonhap) -- South Korean stocks were up 2.06 percent late Monday morning as foreign investors scooped up big caps following a Wall Street rally in the previous session, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) surged 20.59 points to
1,158.53 as of 11:20 a.m.
"Foreign investors were major buyers, emboldened by the U.S. government's
measures to boost the world's largest economy," said Kim Hak-kyun, an analyst at
Korea Investment and Securities.
Leading the gains, large-cap electronics shares rose for a second session on
massive foreign buying. Financial stocks also gathered substantial ground on
bargain hunting.
The Dow Jones industrial average climbed 0.84 percent after U.S. equities and
commodity prices rose on Friday, with the tech-heavy Nasdaq gaining 1.16 percent.

The local currency was trading at 1,363.85 won to the U.S. dollar as of 11:20
a.m., down 5.85 won from Friday's close.
ygkim@yna.co.kr
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