Seoul stocks open stronger on U.S. gains

SEOUL, Feb. 4 (Yonhap) -- South Korean stocks got off to a strong start Wednesday on overnight Wall Street gains and the extension of a currency swap between Seoul and Washington, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.6 points, or 1.6
percent, to 1,181.8 in the first 15 minutes of trading.
U.S. stocks rose Tuesday on relieved home sales data. The Dow Jones industrial
average jumped 1.78 percent and the Nasdaq added 1.46 percent.
Investor confidence was also boosted by early morning news that the U.S. extended
its currency swap deal with South Korea.
Most local blue-chip shares traded sharply higher with tech shares and carmakers
leading the gains.
The local currency was trading at 1,377.65 won to the U.S. dollar as of 9:15
a.m., up 11.85 won from Tuesday's close.