ID :
209589
Tue, 09/27/2011 - 04:20
Auther :
Shortlink :
https://oananews.org//node/209589
The shortlink copeid
Seoul shares open higher on bargain hunting
SEOUL (Yonhap) - South Korean stocks got off to a strong start on Tuesday as foreigners and institutions hunted for bargains following the stock market's recent heavy losses, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) jumped 50.7 points, or 3.07 percent, to 1,703.41 in the first 15 minutes of trading.
Shares gathered ground across the board with blue-chip heavyweights leading the climb. Samsung Electronics, the world's No. 1 memory chip maker, rose around 3 percent and top shipyard Hyundai Heavy Industries surged more than 5 percent.
After falling 8.2 percent last week, the KOSPI further fell 2.64 percent to a yearly low of 1,652.71 in the previous session.
The local currency was trading at 1,183.05 won to the U.S. dollar as of 9:15 a.m., up 12.75 won from Monday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) jumped 50.7 points, or 3.07 percent, to 1,703.41 in the first 15 minutes of trading.
Shares gathered ground across the board with blue-chip heavyweights leading the climb. Samsung Electronics, the world's No. 1 memory chip maker, rose around 3 percent and top shipyard Hyundai Heavy Industries surged more than 5 percent.
After falling 8.2 percent last week, the KOSPI further fell 2.64 percent to a yearly low of 1,652.71 in the previous session.
The local currency was trading at 1,183.05 won to the U.S. dollar as of 9:15 a.m., up 12.75 won from Monday's close.
