ID :
184217
Wed, 05/25/2011 - 04:28
Auther :
Shortlink :
https://oananews.org//node/184217
The shortlink copeid
Seoul shares open higher on auto, refiner gains
SEOUL (Yonhap) - South Korean stocks got off to a strong start on Wednesday, helped by firm gains in automakers and energy companies, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 8.2 points, or 0.4 percent, to 2,069.96 in the first 15 minutes of trading.
Autos advanced as a police crackdown on a key auto-parts maker's labor strike wiped off concerns over disrupted production. Top automaker Hyundai Motor gained nearly 3 percent and its smaller affiliate Kia Motors added more than 2 percent.
Energy companies also shored up the KOSPI with market leader SK Innovation gaining more than 2 percent.
In contrast, state-run power company Korea Electric Power Corp. shed around 2 percent following its recent bullish run.
The local currency was trading at 1,092.75 won to the U.S. dollar as of 9:15 a.m., up 0.65 won from Tuesday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 8.2 points, or 0.4 percent, to 2,069.96 in the first 15 minutes of trading.
Autos advanced as a police crackdown on a key auto-parts maker's labor strike wiped off concerns over disrupted production. Top automaker Hyundai Motor gained nearly 3 percent and its smaller affiliate Kia Motors added more than 2 percent.
Energy companies also shored up the KOSPI with market leader SK Innovation gaining more than 2 percent.
In contrast, state-run power company Korea Electric Power Corp. shed around 2 percent following its recent bullish run.
The local currency was trading at 1,092.75 won to the U.S. dollar as of 9:15 a.m., up 0.65 won from Tuesday's close.
