ID :
189129
Fri, 06/17/2011 - 04:35
Auther :
Shortlink :
https://oananews.org//node/189129
The shortlink copeid
Seoul stocks open higher on U.S. data
South Korean stocks started higher Friday, tracking overnight U.S. gains, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 2.53 points, or 0.12 percent, to trade at 2,049.16 in the first 15 minutes of trading.
The local index mirrored Wall Street gains on Thursday, driven by stronger-than-expected housing and job market data. The Dow Jones industrial average ended 0.5 percent higher.
Hana Financial Group, the fourth-biggest local banking group, tumbled nearly 5 percent in early morning trading on growing pessimism that the company may fail to seal its multi-trillion won deal to buy a controlling stake in Korea Exchange Bank from Lone Star Funds.
The local currency was trading at 1,088.4 won to the U.S. dollar as of 9:15 a.m., up 1.4 won from Thursday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 2.53 points, or 0.12 percent, to trade at 2,049.16 in the first 15 minutes of trading.
The local index mirrored Wall Street gains on Thursday, driven by stronger-than-expected housing and job market data. The Dow Jones industrial average ended 0.5 percent higher.
Hana Financial Group, the fourth-biggest local banking group, tumbled nearly 5 percent in early morning trading on growing pessimism that the company may fail to seal its multi-trillion won deal to buy a controlling stake in Korea Exchange Bank from Lone Star Funds.
The local currency was trading at 1,088.4 won to the U.S. dollar as of 9:15 a.m., up 1.4 won from Thursday's close.
