Seoul shares rise in late morning

SEOUL, March 20 (Yonhap) -- South Korean stocks traded slightly higher late
Friday morning as institutional and foreign investors picked up blue chips,
analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.06 points, or
0.87 percent, to 1,171.87 as of 11:20 a.m.
Most large-cap shares traded higher, with construction, shipping and shipyard
shares driving the turnaround. Consumption-sensitive department stores also
turned positive on bargain hunting.
The upturn came despite overnight Wall Street pullbacks on skepticism about the
effects of the U.S. government's plans to buy Treasury bonds. On Thursday, the
Dow Jones industrial average declined 1.15 percent, and the tech-heavy Nasdaq
composite fell 0.52 percent.
The local currency was trading at 1395.75 won to the U.S. dollar as of 11:20
a.m., up 0.25 won from Thursday's close.
ygkim@yna.co.kr
(END)