Seoul shares up 0.8 pct in late morning

By Kim Soo-yeon
SEOUL, June 30 (Yonhap) -- South Korean stocks traded 0.8 percent higher late
Tuesday morning as investor sentiment was bolstered by overnight gains in U.S.
markets amid hopes for an economic recovery, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) added 11.17 points to
1,399.62 as of 11:20 a.m.
"On the back of Wall Street gains, institutional and foreign investors picked up
Seoul stocks, propping up the market," said Lee Sun-yup, a market analyst at
Goodmorning Shinhan Securities Co. "Although the local stock market has no clear
leads, the index will likely gain ground as investors are betting on an economic
recovery."
U.S. markets gained ground Monday as rising oil prices lifted energy shares. The
Dow Jones industrial average advanced 1.08 percent and the tech-laden Nasdaq
composite index added 0.32 percent.
The local currency was trading at 1,280.25 won to the U.S. dollar as of 11:20
a.m., up 5.55 won from Monday's close.
sooyeon@yna.co.kr
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