Seoul shares spike 1.39 pct in late morning trading

SEOUL, Feb. 15 (Yonhap) -- South Korean shares traded 1.39 percent higher late Monday morning as institutions scooped up blue chips.

The benchmark Korea Composite Stock Price Index (KOSPI) added 25.53 points to 1,860.81 as of 11:20 a.m.

Institutions purchased a net 57.73 billion won (US$47.71 million), while individuals offloaded a net 67.49 billion won. Foreign investors sold a net 1.48 billion won.

Gains on major global stock markets helped boost investor sentiment here.

On Friday, the Dow Jones industrial average surged 2 percent to finish at 15,973.84, with the tech-heavy NASDAQ adding 1.66 percent to 4,337.51.

Apparently taking a cue from Wall Street gains, Japan's Nikkei 225 spiked 4.93 percent while Hong Kong's Hang Seng index surged 2.15 percent as of 11:20 a.m. Monday.

In Seoul, large caps traded mixed.

Market bellwether Samsung Electronics surged 1.95 percent, while industry leader Hyundai Motor and its smaller affiliate Kia Motors jumped 2.92 percent and 3.45 percent respectively.

Cosmetics giant AmorePacific plunged 2.02 percent, with its smaller rival LG Life & Healthcare losing 1.73 percent.

The local currency was trading at 1,210.85 won against the U.S. dollar as of 11:20 a.m., up 0.85 won from Friday's close.

bdk@yna.co.kr
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