Seoul shares up 1.69 pct in late morning

SEOUL, Feb. 26 (Yonhap) -- South Korean stocks extended earlier gains to 1.69
percent late Thursday morning as investors picked up finance and telecom shares,
analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.05 points to
1,085.13 as of 11:20 a.m.
Most blue chips got off to a strong start, with finance and tech shares gaining
substantial ground.
Major brokerage Mirae Asset Securities jumped more than 3 percent. Top fixed-line
telephony service provider KT also jumped for a second day following the approval
by the nation's anti-trust watchdog on Wednesday for its proposed takeover of
mobile affiliate KTF.
Local stocks jumped despite overnight setbacks in U.S. stocks. On Wednesday, the
Dow Jones industrial average declined 1.09 percent, and the tech-heavy Nasdaq
composite fell 1.14 percent.
The currency was trading at 1,514.3 won to the U.S. dollar as of 11:20 a.m., up
1.7 won from Wednesday's close.
kokobj@yna.co.kr
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