Seoul shares up late Fri. morning on U.S. gains

South Korean shares extended earlier gains to trade sharply higher late Friday morning on faster-than-expected U.S. growth. The benchmark Korea Composite Stock Price Index (KOSPI) added 23.48 points, or 0.87 percent, to 2,734.13 as of 11:20 a.m. The index opened in positive terrain, tracking overnight gains on Wall Street on reports that the U.S. economy grew at a faster rate than expected in the second quarter. The Dow Jones Industrial Average advanced 0.2 percent Thursday (U.S. time), ending a two-day losing streak. In Seoul, large caps traded mixed Tech giant Samsung Electronics gained 0.62 percent, while the world's No. 2 chipmaker SK hynix surged 2.26 percent. Top automaker Hyundai Motor was down 3.78 percent, while its smaller affiliate Kia Motors lost 1.83 percent. Leading battery maker LG Energy Solution lost 1.80 percent, but its local rival Samsung SDS advanced 1.52 percent. The local currency was trading at 1,384.15 won against the U.S. dollar, up 1.25 won from the previous session. Sour ce: Yonhap News Agency