Seoul stocks up 2.19 pct in late morning

SEOUL, April 9 (Yonhap) -- South Korean stocks jumped 2.19 percent late Thursday
morning as investors were buoyed by the central bank's interest rate freeze,
analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) soared 27.7 points to
1,289.77 as of 11:20 a.m.
"The rate freeze stoked investors hopes that the economy may not contract
further," said Kim Young-joon, an analyst at SK Securities.
The Bank of Korea held the seven-day repo rate steady at a record low of 2
percent earlier in the day, standing pat for a second month.
The government's successful overseas sale of US$3 billion in sovereign bonds also
boosted expectations for a thaw in liquidity, Kim said.
The local currency was trading at 1,341.55 won to the U.S. dollar as of 11:20
a.m., up 14.95 won from Wednesday's close.
pbr@yna.co.kr
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