stocks-morning

Seoul shares up late Fri. morning on Wall Street gains

SEOUL, Dec. 22 (Yonhap) -- South Korean stocks traded higher late Friday morning, tracking overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.86 points, or 0.30 percent, to 2,607.88 as of 11:20 a.m.

U.S. stock indexes gained ground overnight, with the Dow Jones Industrial Average rising 0.87 percent and the tech-heavy Nasdaq Composite adding 1.26 percent amid continued hopes that the Federal Reserve would ease its monetary policy.

In Seoul, blue chips traded higher across the board.

Market bellwether Samsung Electronics rose 0.80 percent, and No. 2 chipmaker SK hynix jumped 0.50 percent.

Top automaker Hyundai Motor also climbed 0.25 percent, and its smaller affiliate Kia added 1.15 percent. Bio-related stocks gained ground as well, with Celltrion rising 1.49 percent.

Leading battery maker LG Energy Solution, however, dropped 0.47 percent, and steel giant POSCO Holdings also fell 0.51 percent.

The local currency was trading at 1,300.40 won against the U.S. dollar, up 4.70 won from the previous session's close.

odissy@yna.co.kr

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