Seoul shares up 0.65 pct in late morning

SEOUL, April 22 (Yonhap) -- South Korean stocks traded 0.65 percent higher late
Wednesday morning as market sentiment was underpinned by overnight rallies in
U.S. markets, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.73 points to
1,345.54 as of 11:20 a.m.
Banking shares gained substantial ground after sharp declines a day earlier,
while tech issues rallied on expectations first-quarter earnings might be better
than expected.
On Tuesday, Wall Street rebounded on financial gains, with the Dow Jones
industrial average rising 1.63 percent and the tech-dominated Nasdaq composite
index advancing 2.22 percent.
The local currency was trading at 1,345.35 won to the U.S. dollar as of 11:20
a.m., up 4.15 won from Tuesday's close.
kokobj@yna.co.kr
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