Seoul shares up 1.27 pct in late morning

SEOUL, March 16 (Yonhap) -- South Korean stocks advanced 1.27 percent late Monday
morning as large-cap shares posted gains following last week's Wall Street
rallies, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 14.29 points to
1,140.32 as of 11:20 a.m.
Banks led the gains as worries about the financial sector were soothed by news
that some major U.S. banks, including Bank of America and JPMorgan Chase, saw
positive earnings in the first two months of this year.
Blue-chip exporters, including Samsung Electronics and Hyundai Motor, were also
among early gainers.
The local currency was trading at 1,449 won to the U.S. dollar as of 11:20 a.m.,
up 34.5 won from Friday's close.
ygkim@yna.co.kr
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