Seoul shares trade 2.29 pct higher late morning

SEOUL, Nov. 30 (Yonhap) -- South Korean stocks traded 2.29 percent higher late
Monday morning as concerns eased about the impact of Dubai's debt problems on
local and global financial markets, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 34.93 points to
1,559.43 as of 11:20 a.m.
The KOSPI nosedived 4.69 percent on Friday after Dubai announced on Wednesday
that it asked for creditors of its flagship companies to delay repayment of its
debt worth around US$60 billion until May.
The government said earlier in the day that the fallout of the Dubai crisis would
be limited on the local financial markets, but it will run a daily monitoring
system to gauge how the crisis unravels.
Most shares traded in positive territory, led by gains tech, bank and machinery
shares. Market leader Samsung Electronics rose 2.11 percent and KB Financial
Group jumped 3.72 percent.
The local currency was trading at 1,160.2 won to the U.S. dollar as of 11:20
a.m., up 15.3 won from Friday's close.
sooyeon@yna.co.kr
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