Seoul shares trade 0.49 pct higher late morning

SEOUL, Jan. 6 (Yonhap) -- South Korean stocks traded 0.49 percent higher late
Wednesday morning as investors scooped up tech and shipbuilders amid growing
signs of an economic recovery, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 8.28 points to
1,698.90 as of 11:20 a.m.
The key index touched the 1,700-point level in the morning session before it
pulled back marginally due to retail investors' sale of local stocks.
Tech blue chips, shipbuilders and machinery shares gained ground in early
trading. Market leader Samsung Electronics, which rose to a record high 834,000
won (US$731.60) at one point, advanced 1.22 percent as brokerage houses raised
their price estimate for the company.
Reversing earlier losses, the local currency was trading at 1,138.15 won to the
U.S. dollar as of 11:20 a.m., up 2.35 won from Tuesday's close. The Korean won
hit a 15-month high against the dollar Tuesday on foreign investors' increased
appetite for risky assets.
sooyeon@yna.co.kr
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