Seoul shares rebound in late morning

SEOUL, April 14 (Yonhap) -- South Korean stocks traded slightly higher late
Tuesday morning after a weak start as retail investors picked up financial
shares, hunting for bargains, analysts said.
Reversing earlier losses, the benchmark Korea Composite Stock Price Index (KOSPI)
gained 4.25 points to 1,342.51 as of 11:20 a.m.
Financial shares led the overall rally on optimism that the sector's decline in
profits would be smaller than expected.
The upturn came following the overnight news that Goldman Sachs Group Inc.
reported better-than-expected quarterly results after the market closed on
Monday.
The Dow Jones industrial average declined 0.32 percent, and the tech-heavy Nasdaq
composite rose 0.05 percent.
The local currency was trading at 1,325.35 won to the U.S. dollar as of 11:20
a.m., up 3.65 won from Monday's close.
ygkim@yna.co.kr
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