ID :
61873
Fri, 05/22/2009 - 12:59
Auther :
Shortlink :
https://www.oananews.org//node/61873
The shortlink copeid
Seoul stocks up 0.39 pct in morning trade
SEOUL, May 22 (Yonhap) -- South Korean stocks traded 0.39 percent higher late Friday morning as investors picked up brokerages and insurance companies despite overnight pullbacks in U.S. markets, analysts said.
Reversing earlier losses, the benchmark Korea Composite Stock Price Index (KOSPI)
rose 5.51 points to 1,427.16 as of 11:20 a.m.
Sharp advances in brokerages and insurers outpaced losses in tech and steel
shares. Foreign and institutional purchases drove the index higher.
On Thursday, Wall Street retreated amid worries over Britain's sovereign debt
rating with the Dow Jones industrial average falling 1.54 percent.
The local currency was trading at 1,239.65 won to the U.S. dollar as of 11:20
a.m., up 8.95 won from Thursday's close.
Reversing earlier losses, the benchmark Korea Composite Stock Price Index (KOSPI)
rose 5.51 points to 1,427.16 as of 11:20 a.m.
Sharp advances in brokerages and insurers outpaced losses in tech and steel
shares. Foreign and institutional purchases drove the index higher.
On Thursday, Wall Street retreated amid worries over Britain's sovereign debt
rating with the Dow Jones industrial average falling 1.54 percent.
The local currency was trading at 1,239.65 won to the U.S. dollar as of 11:20
a.m., up 8.95 won from Thursday's close.
