Seoul stocks open higher on steel, shipyard gains

SEOUL, Sept. 21 (Yonhap) -- South Korean stocks got off to a strong start Monday
as foreigners and retail investors snapped up steel and shipyard issues, analysts
said.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 5.6 points, or
0.33 percent, to 1,705.31 in the first 15 minutes of trading.
Steel and shipbuilding shares opened higher with top steelmaker POSCO and
shipbuilding giant Hyundai Heavy Industries gaining ground, as investors expected
their exports will improve amid signs of a global economic recovery.
The local currency was trading at 1,206.65 won to the U.S. dollar as of 9:15
a.m., up 1.15 won from Friday's close.
ygkim@yna.co.kr
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