South Korean stocks got off to a strong start Friday, buoyed by expectations that the U.S. will hold off withdrawing its quantitative easing (QE) due to dim economic data, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) shot up 12.91 points, or 0.65 percent to 2,013.01 in the first 15 minutes of trading.
Blue-chip tech shares drove up the main index, with top-cap Samsung Electronics gaining 0.8 percent and No. 1 carmaker Hyundai Motor moving up 0.9 percent.
U.S. markets gathered ground overnight as analysts predicted the Federal Reserve might delay the timing of an exit from its monetary easing, as the latest jobless claims and housing data turned out below consensus.
The local currency was trading at 1,124.60 won against the U.S. dollar as of 9:15 a.m., up 2.8 won from Thursday's close. (Yonhap News)
