Thursday, October 13, 2011

Seoul shares open up; Hana, exporters rally

SEOUL: Seoul shares opened higher on Thursday, with Hana Financial Group spiking after reports Lone Star had decided not to appeal to a stock manipulation verdict in Korea, potentially clearing legal hurdles to its planned sale of KEB to Hana.

Auto exporters like Hyundai Motor and Hyundai Mobis also rallied on hopes for the passage of a free trade deal with the United States, with Hyundai Motor up 3 percent and Hyundai Mobis rising 2.8 percent.

The Korea Composite Stock Price Index (KOSPI) was up 1.33 percent at 1,833.65 points as of 0005 GMT. ' Reuters

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