Seoul shares up late Thurs. morning on Wall Street gains

Seoul stocks gained ground late Thursday morning thanks to overnight U.S. stock gains amid a decline in international oil prices. The benchmark Korea Composite Stock Price Index rose 0.42 percent, or 10.98 points, to 2,605.34 as of 11:20 a.m. Overnight, U.S. stocks extended their gains thanks to a decline in global oil prices and gains in tech stocks. The Dow Jones Industrial Average rose 1.03 percent, the S and P 500 gained 0.71 percent and the tech-heavy Nasdaq composite added 0.6 percent. Automotive and bio shares led the overall gains, with Hyundai Motor up 0.81 percent and Celltrion rising 2.3 percent. Internet portal and financial shares also advanced. Top portal operator Naver jumped 3.43 percent, and Shinhan Financial added 1.44 percent. No. 2 chipmaker SK hynix soared 5.45 percent but larger industry rival Samsung Electronics fell 1.33 percent. Leading battery company LG Energy Solution also shed 3.09 percent. The local currency was trading at 1,349.35 won against the U.S. dollar, up 0.35 won f rom the previous session. Source: Yonhap News Agency