Seoul shares up late Wed. morning ahead of U.S. midterm election results

SEOUL, Nov. 9 (Yonhap) -- South Korean stocks extended their gains late Wednesday morning with investors paying keen attention to the U.S. midterm election results.

The benchmark Korea Composite Stock Price Index (KOSPI) had increased 23.06 points, or 0.96 percent, to 2,422.1 points as of 11:20 a.m.

The U.S. midterm election is widely seen as an important event for the local financial markets.

Investors are speculating that the U.S. midterm election results may affect the currency market in particular.

Overnight, the Dow Jones Industrial Average added 1.02 percent, and the tech-heavy NASDAQ Composite advanced 0.49 percent.

In Seoul, market bellwether Samsung Electronics grew 0.32 percent, and No. 2 chipmaker SK hynix increased 0.91 percent.

Top automaker Hyundai Motor added 0.59 percent, and its smaller affiliate Kia rose 0.3 percent. Chemical giant LG Chem swelled 2.6 percent.

The Korean won had been changing hands at 1,370.5 won against the U.S. dollar as of 11:20 a.m., up 14.4 won from the previous session's close.

jwc@yna.co.kr
(END)