Seoul stocks start higher on U.S. rallies

SEOUL, March 24 (Yonhap) -- South Korean stocks opened sharply higher Tuesday as
banks and other large-cap shares were boosted by overnight U.S. rallies, analysts
said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.11 points, or
1.51 percent, to 1,216.61 in the first 15 minutes of trading.
U.S. shares surged Monday on Washington's announcement of a bank rescue plan. The
Dow Jones industrial average jumped 6.84 percent and the tech-heavy Nasdaq rose
6.76 percent.
The local currency was trading at 1,383.75 to the U.S. dollar as of 9:15 a.m., up
7.85 won from Monday's close.
kokobj@yna.co.kr
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