Seoul shares up 0.16 pct in late morning

SEOUL, May 11 (Yonhap) -- South Korean stocks traded 0.16 percent higher late
Monday morning as investors took comfort from Wall Street gains on eased fears
over the financial sector, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 2.32 points to
1,414.45 as of 11:20 a.m.
U.S. stocks closed higher Friday as the government's assessment of the banking
industry turned better than expected. The Dow Jones industrial average rose 1.96
percent and the Nasdaq composite index gained 1.33 percent.
The local currency was trading at 1,237.5 won to the U.S. dollar as of 11:20
a.m., up 9.5 won from Friday's close.
ygkim@yna.co.kr
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