Seoul shares open higher on eased U.S. debt woes

SEOUL, Aug. 1 (Yonhap) -- South Korean stocks got off to a strong start on Monday on eased concerns about the U.S. debt crisis, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.7 points, or 1.25 percent, to trade at 2,159.91 in the first 15 minutes of trading. Market giant Samsung Electronics jumped 1.9 percent and top carmaker Hyundai Motor went up 1.28 percent. Refiners went bullish, with market leader SK Innovation rising 2.29 percent. U.S. lawmakers are highly expected to reach an agreement to raise the borrowing limit and avoid a default before the Aug. 2 deadline. The local currency was trading at 1,049.45 won to the U.S. dollar as of 9:15 a.m., up 5.05 won from Friday's close.