ID :
191660
Wed, 06/29/2011 - 04:22
Auther :
Shortlink :
https://oananews.org//node/191660
The shortlink copeid
Seoul shares open higher on U.S. rallies
South Korean stocks got off to a strong start on Wednesday as foreign investors snapped up Seoul shares underpinned by overnight gains on Wall Street, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.6 percent, or 32.95 points, to 2,095.86 in the first 15 minutes of trading.
Stocks traded in positive territory across the board with previously beaten-down sectors, such as tech and auto, rising sharply.
Food and entertainment conglomerate CJ Group, however, extended losses, losing more than 3 percent, after being picked as a prime bidder for a major stake in Korea Express, which slumped more than 5 percent.
On Tuesday, U.S. shares staged a bull run as investors bet that a resolution on Greek reform plans was imminent. The Dow Jones industrial average was up 1.21 percent and the tech-focused Nasdaq Composite index rallied 1.53 percent.
The local currency was trading at 1,077.65 won to the greenback as of 9:15 a.m., up 5.85 won from Tuesday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.6 percent, or 32.95 points, to 2,095.86 in the first 15 minutes of trading.
Stocks traded in positive territory across the board with previously beaten-down sectors, such as tech and auto, rising sharply.
Food and entertainment conglomerate CJ Group, however, extended losses, losing more than 3 percent, after being picked as a prime bidder for a major stake in Korea Express, which slumped more than 5 percent.
On Tuesday, U.S. shares staged a bull run as investors bet that a resolution on Greek reform plans was imminent. The Dow Jones industrial average was up 1.21 percent and the tech-focused Nasdaq Composite index rallied 1.53 percent.
The local currency was trading at 1,077.65 won to the greenback as of 9:15 a.m., up 5.85 won from Tuesday's close.
