The Korea Herald


Seoul shares open higher on U.S. gains

By KH디지털뉴스부공용

Published : Feb. 28, 2013 - 09:39

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South Korean stocks opened higher Thursday, tracking overnight Wall Street gains spurred by the U.S.

Fed's confirmation of its plan to maintain stimulus measures, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) increased 14.59 points, or 0.73 percent, to 2,018.63 in the first 15 minutes of trading.

Shares gathered ground across the board, with market behemoth Samsung Electronics adding 1.05 percent and top steelmaker POSCO gaining 0.28 percent. No. 1 carmaker Hyundai Motor moved up 0.47 percent.

U.S. stocks ended higher Wednesday also on the country's improved housing data, with the Dow Jones Industrial Average rising

1.26 percent and the NASDAQ composite index adding 1.04 percent.

The local currency was trading at 1,081.50 won to the U.S. dollar as of 9:15 a.m., up 2.90 won from Wednesday's close. The stock market will be closed on Friday due to March 1 Independence Movement Day. (Yonhap News)