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S. Korean shares up 1.47 pct in late morning trade

All News 11:30 March 02, 2016

SEOUL, March 2 (Yonhap) -- South Korean shares advanced 1.47 percent late Wednesday morning on the back of gains in global oil prices and taking cue from a bull run in overseas stock markets.

The benchmark Korea Composite Stock Price Index (KOSPI) shot up 28.26 points to 1,944.92 as of 11:20 a.m.

Tech shares continued to lead the market, with Samsung Electronics advancing 2.04 percent and LG Display climbing 1.22 percent. Top chipmaker SK hynix moved up 2.83 percent.

Builders also gained ground, with Hyundai Engineering & Construction moving up 3.42 percent, and Daewoo Engineering & Construction increasing 1.49 percent. Daelim Industrial added 3.23 percent.

The local currency was changing hands at 1,235.3 won against the greenback, up 1.4 won from Monday's close. South Korea's financial markets were closed on Tuesday for the 97th anniversary of the March 1 Independence Movement.


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