Seoul shares up 0.22 pct in late morning

By Lee Youkyung
SEOUL, Aug. 10 (Yonhap) -- South Korean shares traded 0.22 percent higher late
Monday morning as foreign investors continued to increase holdings of local
stocks, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 3.46 points to
1,579.46 as of 11:20 a.m.
"Despite better-than-expected U.S. unemployment data that sent New York stocks
soaring last Friday, local stocks are trading nearly flat with foreign investors
giving some upward momentum," said Lee Seung-woo, an analyst at Daewoo
Securities.
Shares related to inter-Korean economic cooperation gained ground on the Hyundai
Group chief's imminent visit to Pyongyang. Hyundai Merchant Marine Co. jumped
nearly 9 percent, while Hyundai Elevator added more than 5 percent and apparel
maker Shinwon Co. gained more than 4 percent.
The local currency was trading at 1,223.55 won to the U.S. dollar as of 11:20
a.m., down 1.45 won from Friday's close.
ylee@yna.co.kr
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