Seoul shares trade 0.15 pct higher in late morning

By Kim Soo-yeon
SEOUL, July 6 (Yonhap) -- South Korean stocks traded 0.15 percent higher late
Monday morning as investors picked up tech shares on rising expectations for
higher second-quarter earnings, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 2.07 point to
1,422.11 as of 11:20 a.m.
"The stock index gained ground due to solid advances of Samsung Electronics
shares. The KOSPI is widely expected to gain momentum as corporate earnings in
the second quarter will be better than those in the first quarter," said Bae
Sung-young, an analyst at Hyundai Securities Co.
Market leader Samsung Electronics jumped more than 4 percent after announcing
that its second-quarter operating profits were expected to reach between 2.2
trillion won (US$1.7 billion) and 2.6 trillion won.
The local currency was trading at 1,268.7 won to the U.S. dollar as of 11:20
a.m., down 2.7 won from Friday's close.
sooyeon@yna.co.kr
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