South Korean stocks start at 4-year high

South Korean stocks start at 4-year high

South Korean stocks opened higher Tuesday on strong foreign buying, with its benchmark index reaching a near four-year high.
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The benchmark Korea Composite Stock Price Index gained 2.54 points, or 0.12 percent, to trade at 2,101.46 points in the first 15 minutes of trading.

It touched the 2,100-point landmark for the first time since it closed at 2,121.27 on August 2, 2011.

The tech-savvy KOSDAQ traded at a seven-year high of 690.2 points.

Foreigners continued their buying spree for the sixth consecutive session, scooping up 39.7 billion won ($36 million).

Carmakers were strong, with industry leader Hyundai Motor adding 0.3 percent and its sister Kia Motors rising 1.3 percent.

Top oil refiner SK Innovation advanced 1.75 percent, and No. 3 S-Oil moved up 1.22 percent.

Hotel Shilla soared 6.19 percent on news that it will join hands with Hyundai Development Co. to run a duty-free shop in southern Seoul.

The local currency was changing hands at 1,099 won against the U.S. dollar as of 9:15 a.m., down 0.4 won from Monday’s close. (Yonhap)

Source:http://english.yonhapnews.co.kr/business/2015/04/13/23/0503000000AEN20150413007100320F.html

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