Seoul shares up 2.16 pct in late morning

SEOUL, April 6 (Yonhap) -- South Korean stocks traded 2.16 percent higher late Monday morning as investors digested North Korea's rocket launch a day earlier, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 27.74 points to
1,311.49 as of 11:20 a.m. on strong foreign buying, breaching the 1,300-point
level for the first time in about six months.
"The North's rocket launch was widely anticipated, having little impact on
investor sentiment," said Lee Sun-yup, an analyst at Goodmorning Shinhan
Securities Co. "The news rather helped dispel uncertainty surrounding
geopolitical risks."
On Sunday, North Korea launched a long-range rocket in defiance of repeated
international warnings, which South Korea and the United States say fizzled into
the Pacific Ocean.
The Korean currency was trading at 1,319.25 won to the U.S. dollar as of 11:20
a.m., up 21.25 won from Friday's close.