Seoul stocks up 4.55 pct in late morning

SEOUL, Jan. 28 (Yonhap) -- South Korean stocks jumped 4.55 percent in late
Wednesday morning, boosted by tech shares' steep gains, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) surged 49.78 points to
1,143.18 as of 11:20 a.m.

"Tech shares shot up on expectations a bankruptcy of a German chipmaker will
lessen a market glut," said Jeon Ji-won, an analyst at Kiwoom Securities.
Big-cap tech shares, especially chipmakers, traded substantially higher as
Qimonda AG's filing of court protection last week is forecast to increase the
local firms' market share.
The local currency was trading at 1,387.40 won to the U.S. dollar as of 11:20
a.m., up 3.5 won from Friday's close. The local financial market was closed
Monday and Tuesday for the Lunar New Year holiday.
pbr@yna.co.kr
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