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THE INVESTOR] Stocks in Seoul slightly trimmed early morning gains later in the morning on Aug. 16 after responding to gains on Wall Street helped by positive US economic data and a rebound in global oil prices.
The benchmark KOSPI rose 1.73 points, or 0.08 percent, to 2,052.20 as of 11:20 a.m.
The main index continued to gain after marking a 1.61 percent increase for the whole of last week. On Aug. 12, it closed at 2,050.47 points, hitting fresh yearly highs.
Investors will closely watch the minutes of the Federal Open Market Committee‘s discussion of monetary policy in July, which will be released later this week.
The Dow Jones industrial average rose 0.32 percent, with the tech-heavy NASDAQ composite index climbing 0.56 percent.
Most large-cap stocks advanced across the board.
Market bellwether Samsung Electronics rose 1.29 percent, leading cosmetics-maker AmorePacific gained 0.77 percent and SK Innovation, the nation’s largest refiner, was up 2.96 percent.
The local currency was trading at 1,096.50 won against the US dollar, strengthening by 6.80 won from the previous session’s close.
(
theinvestor@heraldcorp.com)
