[
THE INVESTOR] South Korean shares traded 0.54 percent higher late morning on Aug. 5 as foreign investors welcomed the Bank of England’s interest rate cut and stimulus package.
The benchmark KOSPI added 10.89 points to 2,010.92 as of 11:20 a.m.
A rally in tech shares lifted the index.
Market kingpin Samsung Electronics increased 2.24 percent, and chip giant SK hynix advanced 2.38 percent.
Cosmetic shares, which heavily rely on exports to China, were down as Seoul’s relations with Beijing have soured over the planned deployment of the advanced US anti-missile system on the Korean Peninsula.
Top cosmetics maker AmorePacific shed 2.95 percent, and its smaller rival LG Household & Healthcare tumbled 4.88 percent.
The local currency was changing hands at 1,112.10 won against the US dollar, up 1.90 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
