Seoul shares up 1.26 pct in late morning

SEOUL, Nov. 28 (Yonhap) -- South Korean stocks traded 1.26 percent higher late
Friday morning as institutions and foreigners expanded purchases of large-cap
shares, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 13.41 points to
1,076.89 as of 11:20 a.m.
"With little clear market-moving indicators, stocks started relatively higher
thanks to sharp gains in construction shares," said Choi Soon-ho, an analyst at
Eugene Investment & Securities. "Still, momentum is not enough for a further rise
as investors remain worried over a global economic slowdown."
Construction and banking shares drove the overall market advance, offsetting
losses in steel, shipyard and other export-driven companies.
Recent rallies on Wall Street bolstered purchases here. U.S. markets were closed
on Thursday for the Thanksgiving holiday, taking a break after four consecutive
sessions of advances.
The local currency was trading at 1,467.65 won to the U.S. dollar as of 11:20
a.m., up 8.35 won from Thursday's close, reversing an earlier downward move.
kokobj@yna.co.kr
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