Seoul shares rise on bargain hunting

SEOUL, Sept. 17 (Yonhap) -- South Korean stocks opened sharply higher Wednesday as investors hunted for blue-chip bargains following the key index's plunge the previous day, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) climbed 30.41 points, or
2.19 percent, to 1,418.16 in the first 15 minutes of trading.

Brokerages, which suffered the most on Monday, led the overall gains. Industry
leaders Mirae Asset & Securities and Samsung Securities gained 5.89 percent
and 6.83 percent, respectively. Other financials also added ground.

Tech exporters, construction and shipyards also added ground. Market heavyweight
Samsung Electronics added more than 1.3 percent, while leading builder Daewoo
Engineering & Construction and Hyundai Heavy Industries both gained nearly 5
percent.

The KOSPI plummeted to a 18-month low of 1,387.75 on Tuesday, falling alongside
other Asian markets due to escalated jitters over the health of the U.S.
financial system.

The local currency was trading at 1,144.85 won to the U.S. dollar as of 9:15
a.m., up 15.15 won from Tuesday's close

odissy@yna.co.kr

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