Seoul stocks open higher on economic hopes

By Lee Youkyung
SEOUL, Aug. 10 (Yonhap) -- South Korean stocks opened 0.65 percent higher Monday
as bullish economic data inflated investor sentiment, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 10.23 points to
1,586.23 in the first 15 minutes of trading.

On Sunday, the International Monetary Fund (IMF) revised up its 2009 growth
outlook for South Korea to a 1.75 percent contraction from the previous 3 percent
fall, citing authorities' timely response to the global financial crisis.
The local currency was trading at 1,220.95 won to the U.S. dollar as of 9:15
a.m., up 4.05 won from Friday's close.
ylee@yna.co.kr
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