Seoul stocks up 0.43 pct in late morning

SEOUL, April 23 (Yonhap) -- South Korean stocks traded up 0.43 percent late
Thursday morning as optimism about first-quarter corporate earnings outweighed
profit-taking, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 5.89 points to
1,361.91 as of 11:20 a.m.
"Investors remain bullish about third-quarter corporate performances, sending the
key index slightly higher in volatile trading," said Choi Sung-lak, an analyst at
SK Securities.
Automakers led the gains on expectations their car sales will get a boost from a
recent rise in demand in developing nations, Choi said.
The local currency was trading at 1,351.05 won to the U.S. dollar as of 11:20
a.m., down 2.55 won from Wednesday's close.
pbr@yna.co.kr
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