Seoul stocks jump late Wed. morning on tech rebound

SEOUL, Oct. 13 (Yonhap) -- South Korean stocks traded sharply higher late Wednesday morning, as investors seek to buy oversold stocks, particularly tech shares, after a sharp plunge the previous session.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 32.19 points, or 1.1 percent, to 2,948.57 as of 11:20 a.m.

Stocks advanced as most large tech caps bounced back.

Investor sentiment also improved on strong jobs data in September, which jumped by the most in seven years.

Market bellwether Samsung Electronics Co. increased 0.72 percent to 69,500 won, after plunging more than 3 percent in the previous session.

No. 2 chipmaker SK hynix Inc. added 1.75 percent to 93,100 won, internet portal operator Naver advanced 2.02 percent to 379,500 won, and top automaker Hyundai Motor Co. jumped 2.93 percent to 210,500 won.

LG Chem Ltd. rose 1.13 percent to 805,000 won, and electric battery maker Samsung SDI Co. gained 1.21 percent to 671,000 won.

Among losers, steelmaker POSCO retreated 1.09 percent to 318,500 won, and LG Electronics Co. declined 2.42 percent to 121,000 won.

The local currency was trading at 1,193.9 won against the U.S. dollar, down 4.9 won from the previous session's close.

jwc@yna.co.kr
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