The Korea Herald


Seoul shares open higher on U.S. gains

By 양승진

Published : Jan. 4, 2011 - 09:29

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South Korean stocks began higher on Tuesday as overnight rallies on Wall Street boosted investor sentiment, analysts said.

   The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.77 points, or 0.18 percent, to 2,073.85 in the first 15 minutes of trading.

   Shipbuilders led the climb with market leader Hyundai Heavy Industries jumping more than 3 percent and its smaller rival Daewoo Shipbuilding & Marine Engineering gaining more than 2 percent.

   Doosan Engine, a producer of diesel engines, surged nearly 8 percent on its first day of trading on the KOSPI.

   The local currency was trading at 1,123 won to the greenback as of 9:15 a.m., up 3.5 won from Monday's close.

(Yonhap News)