Seoul shares inch up after weak start

SEOUL, June 1 (Yonhap) -- South Korean stocks started weaker Monday but quickly
gained ground as prospects for an economic recovery overshadowed institutional
selling, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 3.64 points, or
0.26 percent, to 1,399.53 in the first 15 minutes of trading.
Top automaker Hyundai Motor and its affiliate Kia Motors advanced more than 2
percent. But their smaller rival Ssangyong Motor declined 4.2 percent on its
decision to shut down its main factory south of Seoul, responding to a labor
strike staged ahead of massive job cuts.
The local currency was trading at 1,247.4 won to the U.S. dollar as of 9:15 a.m.,
up 7.6 won from Friday's close.
sooyeon@yna.co.kr
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