Seoul stocks up 2.19 pct in late morning

SEOUL, May 19 (Yonhap) -- South Korean stocks traded 2.19 percent higher late
Tuesday morning as investors picked up steel and financial shares following
overnight Wall Street rallies, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 30.41 points to
1,417.09 as of 11:20 a.m.
Most shares gained marked ground as foreign investors expanded holdings, sending
the index above the 1,400-point mark for the first time in about a week.
Steel and financial shares surged after the previous day's pullbacks, while auto
shares continued to rally on improved outlooks for overseas sales.
On Monday, Wall Street rebounded on optimism that consumer spending is
stabilizing. The Dow Jones industrial average jumped 2.85 percent and the Nasdaq
composite index advanced 3.11 percent.
The local currency was trading at 1,245.25 won to the U.S. dollar as of 11:20
a.m., up 14.25 won from Monday's close.
kokobj@yna.co.kr
(END)