Seoul shares open higher on Wall Street gains

SEOUL, Aug. 24 (Yonhap) -- South Korean stocks got off to a strong start Monday
as investors took comfort from gains in U.S. markets, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.05 points, or
1.46 percent, to 1,604.03 in the first 15 minutes of trading.
As soon as the market opened, the KOSPI surpassed the 1,600-point mark for the
first time since July 31, 2008.
U.S. markets closed sharply higher Friday, buoyed by improving data on
existing-home sales and upbeat remarks on an economic recovery by Federal Reserve
Chairman Ben Bernanke. The Dow Jones industrial average climbed 1.67 percent and
the tech-laden Nasdaq composite index rose 1.59 percent.
The local currency was trading at 1,242.1 won to the U.S. dollar as of 9:15 a.m.,
up 7.6 won from Friday's close.
sooyeon@yna.