Seoul stocks up 0.9 pct in late morning

SEOUL, Sept. 17 (Yonhap) -- South Korean stocks traded 0.89 percent higher in
late Thursday morning, buoyed by massive foreign buying, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.95 points to
trade at 1,698.28 as of 11:20 a.m. In earlier trading, the KOSPI briefly touched
the 1,700 mark for the first time since June 26 last year.
"Continued foreign purchases are propelling the market higher, bolstered by
expectations for better-than-expected corporate earnings," said Kim Joong-won, an
analyst at HMC Investment Securities.
"The index's inclusion in the global index compiler FTSE's developed market
status also prompted massive foreign buying," Kim said.
The local currency was trading at 1,206.05 won to the U.S. dollar as of 11:20
a.m., up 5.15 won from Wednesday's close.
pbr@yna.co.kr
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