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  • Seoul shares open higher on U.S. gains
    Seoul shares open higher on U.S. gains
    South Korean stocks opened higher on Monday as investor sentiment got a boost from the U.S. Fed's latest stimulus measure, analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) climbed0.85 points, or 0.04 percent, to 2008.43 in the first 15 minutes of trading.Tech blue chips drove up the shares, with LG Electronics gaining 1.59 percent and SK hynix, the world No. 2 memory chipmake
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Seoul shares open higher on U.S. gains

Sept. 17, 2012 - 09:59 By 박한나

South Korean stocks opened higher on Monday as investor sentiment got a boost from the U.S. Fed's latest stimulus measure, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed

0.85 points, or 0.04 percent, to 2008.43 in the first 15 minutes of trading.

Tech blue chips drove up the shares, with LG Electronics gaining 1.59 percent and SK hynix, the world No. 2 memory chipmaker, climbing 0.65 percent to 23,100 won.

Leading carmaker Hyundai Motor climbed 0.61 percent and its smaller affiliate Kia Motors added 0.13 percent.

The Federal Reserve announced a plan Thursday to inject US$40 billion monthly to purchase mortgage-backed securities and maintain its key interest rate under 0.25 percent to promote corporate investment.

U.S. stocks finished higher overnight on the stimulus plans, with the Dow Jones industrial average increasing 0.40 percent and the Nasdaq composite index climbing 0.89 percent.

The local currency was trading at 1,115.90 won to the U.S. dollar as of 9:15 a.m., down 1.30 won from Friday's close. (Yonhap News)

 

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