Seoul shares open higher on institutional buying

SEOUL, March 20 (Yonhap) -- South Korean stocks got off to a good start on Friday
on institutional buying of shipyards, builders and other blue-chip shares,
analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 11.63 points, or 1
percent, to 1,173.44 in the first 15 minutes of trading.
Shipbuilders and construction shares led the overall gains. Hyundai Heavy
Industries, the world's No. 1 shipyard, climbed 2.9 percent and top domestic
builder Daewoo Engineering & Construction also opened higher.
Tech share also added ground with LG Display and other tech exporters gaining
sharply.
The local currency was trading at 1,395.25 won to the U.S. dollar as of 9:15
a.m., up 0.75 won from Thursday's close.
ygkim@yna.co.kr
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