Seoul stocks edge up in late morning

SEOUL, Sept. 18 (Yonhap) -- South Korean stocks traded 0.08 percent higher in
late Friday morning, led by energy and machinery shares and strong foreign
buying, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.4 points to trade
at 1,696.87 as of 11:20 a.m.
"The KOSPI posted a moderate gain as investors are shifting attention to
beaten-down energy, machinery sectors while locking in profits on tech, auto
rallies," said Kim Hyoung-youl, an analyst at NH Investment & Securities.
After opening above the 1,700 mark, the highest level since June 26 last year,
the KOSPI shied away from the level as institutional investors increased
sell-offs, Kim said.
The local currency was trading at 1,208.9 won to the U.S. dollar as of 11:20
a.m., down 3.9 won from Thursday's close.
pbr@yna.co.kr
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