ID :
51130
Wed, 03/18/2009 - 11:47
Auther :
Shortlink :
https://www.oananews.org//node/51130
The shortlink copeid
Seoul stocks up 0.11 pct in late morning
SEOUL, March 18 (Yonhap) -- South Korean stocks edged up 0.11 percent late Wednesday morning though profit-taking erased early gains, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) added 1.31 points to
1,165.19 as of 11:20 a.m. The index gained as much as 1 percent in early trading,
boosted by overnight Wall Street advances.
"Investors scrambled to lock in profits from recent surges, causing the key index
to lose upward momentum," said Lim Tae-keun, an analyst at Daewoo Securities.
The local currency also reversed the gains for the past three sessions, weighing
down on bank shares, Lim said.
The won was trading at 1,426.5 won to the U.S. dollar as of 11:20 a.m., down 18.5
won from Tuesday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) added 1.31 points to
1,165.19 as of 11:20 a.m. The index gained as much as 1 percent in early trading,
boosted by overnight Wall Street advances.
"Investors scrambled to lock in profits from recent surges, causing the key index
to lose upward momentum," said Lim Tae-keun, an analyst at Daewoo Securities.
The local currency also reversed the gains for the past three sessions, weighing
down on bank shares, Lim said.
The won was trading at 1,426.5 won to the U.S. dollar as of 11:20 a.m., down 18.5
won from Tuesday's close.
