Seoul shares up 1.64 pct in late morning

SEOUL, March 17 (Yonhap) -- South Korean stocks traded 1.64 percent higher late
Tuesday morning as institutional investors picked up blue chips despite overnight
Wall Street losses, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.45 points to
1,143.91 as of 11:20 a.m.
Shrugging off overnight falls in U.S. markets, most shares traded in positive
territory. Financials rose for a second day on expectations that local banks will
benefit from a stronger won.
U.S. stocks lost ground on Monday, with the Dow Jones industrial average shedding
0.1 percent and the tech-dominated Nasdaq composite index falling 1.92 percent.
The local currency was trading at 1,410.3 won to the U.S. dollar as of 11:20
a.m., up 29.7 won from Monday's close.
ygkim@yna.co.kr
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