Seoul stocks up 2.16 pct in late morning

SEOUL, July 15 (Yonhap) -- South Korean stocks traded 2.16 percent higher late
Wednesday morning as foreign investors picked up tech and bank shares, encouraged
by overnight gains in U.S. markets, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) jumped 29.92 points to
1,415.48 as of 11:20 a.m.
Tech issues drove the market higher after Intel posted earnings that beat market
expectations on Tuesday. Industry leader Samsung Electronics surged over 4
percent, while chipmaking giant Hynix Semiconductor rose around 2 percent.
On Tuesday, U.S. markets closed higher, mainly driven by better-than-expected
earnings by Goldman Sachs. The Dow Jones industrial average rose 0.33 percent and
the tech-laden Nasdaq composite index also gained 0.36 percent.
The local currency was trading at 1,285.25 won against the U.S. dollar as of
11:20 a.m., up 7.75 won from Tuesday's close.
kokobj@yna.co.kr
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