Seoul shares open higher on U.S. data, ECB rate cut
May 3, 2013
South Korean stocks got off to a strong start Friday, buoyed by upbeat economic data in the United States and the policy rate cut by the European Central Bank (ECB), analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) gained 4.77 points, or 0.24 percent, to 1,961.98 in the first 15 minutes of trading. Telecom companies and metal manufacturers drove up shares, with No. 1 mobile carrier SK Telecom jumping 2.5 percent and zinc smelter Korea Zinc hiking nearly 5 percent. The U.S.