Published : 2013-01-15 09:38
Updated : 2013-01-15 09:38
South Korean stocks got off to a weak start but soon rose slightly on the back of foreign buying amid a lack of positive leads, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) began 0.15 percent lower as soon as it opened but turned to trade up 2.24 points, or 0.11 percent to 2,009.28 in the first 15 minutes of trading.
Overseas investors started off snapping up local shares worth 14.9 billion won (US$14.1 million) as of 9:15 a.m., driving up the main index.
Telecom and auto shares traded bullish, with SK Telecom and Hyundai Motor both adding nearly 2 percent.
In contrast, tech firms lost ground, with market bellwether Samsung Electronics shedding 0.5 percent.
The local currency was trading at 1,055.25 won against the U.S. dollar as of 9:15 a.m., up 0.85 won from Monday's close. (Yonhap News)