Seoul shares up 0.56 pct late morning

SEOUL, Oct. 23 (Yonhap) -- South Korean stocks traded 0.56 percent higher late
Friday morning as investors snapped up automakers and tech shares following
rebounds in U.S. markets, analysts said.
After range-bound trading, the benchmark Korea Composite Stock Price Index
(KOSPI) rose 9.19 points to 1,639.52 as of 11:20 a.m.
Automakers were lifted on their solid third-quarter earnings. Top carmaker
Hyundai Motor climbed 4.37 percent and its affiliate Kia Motors jumped 4.96
percent.
U.S. markets closed higher Thursday, helped by a batch of strong earnings
reports. The Dow Jones industrial average rose 1.33 percent and the tech-laden
Nasdaq composite index added 0.68 percent.
The local currency was trading at 1,187.2 won to the U.S. dollar as of 11:20
a.m., up 2.8 won from Thursday's close.
sooyeon@yna.co.kr
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