Seoul shares open higher on auto, builder
Published : 2013-01-16 09:37
Updated : 2013-01-16 09:38
South Korean stocks began higher Wednesday, buoyed by gains in automobile and construction companies, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) added 4.42 points, or 0.22 percent to 1,988.16 in the first 15 minutes of trading.
Ssangyong Motor, the smallest player, jumped more than 3 percent, with top builder Hyundai Engineering & Construction rising 1.4 percent.
Local builders gained ground after the transition team of President-elect Park Geun-hye pledged to boost the ailing property sector.
In contrast, telecom and brokerage houses trended in negative terrain, with No. 1 mobile carrier SK Telecom losing 1.2 percent.
The local currency was trading at 1,056.60 won against the U.S. dollar as of 9:15 a.m., down 0.1 won from Tuesday's close. (Yonhap News)