Seoul stocks open higher on steel, machinery gains

SEOUL, March 23 (Yonhap) -- South Korean stocks opened higher on Monday, driven
by advances in steel and machinery makers, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.88 points, or
1.36 percent, to 1,186.82 in the first 15 minutes of trading.
The rally comes despite setbacks in U.S. stocks, which closed down for a second
consecutive day on Friday. The Dow Jones industrial average dropped 1.65 percent
and the tech-heavy Nasdaq fell 1.77 percent.
The local currency was trading at 1,398.75 to the U.S. dollar as of 9:15 a.m., up
13.75 won from Friday's close.
kokobj@yna.co.kr
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