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피터빈트

Seoul shares open higher on stimulus hope

By 윤민식

Published : May 22, 2013 - 10:11

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South Korean stocks opened higher Wednesday as officials from the United States Federal Reserve highlighted the necessity to maintain its quantitative easing down the road, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) shot up 8.84 points, or 0.45 percent, to 1,989.93 in the first 15 minutes of trading.

Tech blue chips led the gain, with market behemoth Samsung Electronics adding 0.13 percent and its rival LG Electronics moving up 0.72 percent. Leading chipmaker SK hynix climbed 1.8 percent.

Builders also gathered ground, with Hyundai Engineering & Construction adding 0.79 percent and Daewoo Engineering & Construction advancing 0.88 percent. Daelim Industrial increased 1.81 percent.

The local currency was trading at 1,112.35 won against the U.S. dollar as of 9:15 a.m., down 1.75 won from Tuesday's close. (Yonhap News)



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