Seoul stocks open higher on earnings momentum

SEOUL, July 21 (Yonhap) -- South Korean stocks started higher Tuesday, lifted by
continued earnings momentum and overnight U.S. gains, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.39 points, or 0.7
percent, to trade at 1,488.9 in the first 15 minutes of trading.
Tech firms and steel makers spearheaded the gains on strong second-quarter
earnings optimism.
The key index was also buoyed by Wall Street gains on Monday after troubled U.S.
lender CIT Group's agreement to receive bailout money from bondholders saw the
Dow Jones industrial average close 1.19 percent higher.
The local currency was trading at 1,244.5 won versus the U.S. dollar, up 5.7 won
from Monday's close.
pbr@yna.co.kr
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