Seoul shares up 1.35 pct in late morning

SEOUL, Dec. 22 (Yonhap) -- South Korean stocks traded 1.35 percent higher late
Monday morning as investors, heartened by the government's economic stimulus
package, picked up shares of banks and builders, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) surged 15.98 points to
1,196.95 as of 11:20 a.m.
"The Seoul bourse was testing the 1,200-point mark in the morning session.
Expectations for the government's economic stimulus package lifted shares of
banks and shipbuilders," said Park Suk-hyun, an analyst at Eugene Investment &
Securities Co. "Tech shares also gained ground on hopes that the sector may hit
the bottom."
Hopes of a year-end rally boosted the KOSPI above the 1,200-point mark at one
point. It was the first time in more than one month that the key index traded
above that level.
The local currency was trading at 1,290.25 won to the U.S. dollar as of 11:20
a.m., down 0.25 won from Friday's close.
sooyeon@yna.co.kr
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