SEOUL: South Korean stocks began higher Thursday, on hopes that the economy will prop up as the spread of Middle East Respiratory Syndrome (MERS) seems to be on track for containment, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.42 points, or 0.35 percent, to 2,105.31 in the first 15 minutes of trading.
Food and hospitality stocks drove up the index, with confectionery maker Orion spiking more than 9 percent and Hotel Shilla, a major hotel chain here, jumping nearly 6 percent.
In contrast, top-cap shares trended lower. Tech giant Samsung Electronics lost 0.15 percent, and Hyundai Motor slipped 1.5 percent.
The local currency was trading at 1,123.10 won against the U.S. dollar as of 9:15 a.m., down 5.6 won from Wednesday’s close.
