ID :
211195
Wed, 10/05/2011 - 04:13
Auther :
Shortlink :
https://oananews.org//node/211195
The shortlink copeid
Seoul shares start higher on U.S. gains
SEOUL (Yonhap) - South Korean stocks got off to a strong start Wednesday, tracking overnight gains on Wall Street, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.78 points, or 0.16 percent, to 1,708.97 in the first 15 minutes of trading, rebounding from a huge plunge in the previous session.
Market bellwether Samsung Electronics fell 0.6 percent, while its smaller rival LG Electronics soared 4.05 percent, after Apple's release of the new iPhone 4S.
After opening sharply lower, U.S. stocks closed higher on reports that European leaders will take actions to support the region's troubled banks. The Dow Jones industrial average jumped 1.4 percent and the technology-focused Nasdaq composite rose 3 percent.
The local currency was trading at 1,194.6 won to the U.S. dollar as of 9:15 a.m., down 0.6 won from Tuesday's close.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.78 points, or 0.16 percent, to 1,708.97 in the first 15 minutes of trading, rebounding from a huge plunge in the previous session.
Market bellwether Samsung Electronics fell 0.6 percent, while its smaller rival LG Electronics soared 4.05 percent, after Apple's release of the new iPhone 4S.
After opening sharply lower, U.S. stocks closed higher on reports that European leaders will take actions to support the region's troubled banks. The Dow Jones industrial average jumped 1.4 percent and the technology-focused Nasdaq composite rose 3 percent.
The local currency was trading at 1,194.6 won to the U.S. dollar as of 9:15 a.m., down 0.6 won from Tuesday's close.
