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Seoul shares open higher on EU deal; shipbuilders lead
July 2, 2012 / 12:13 AM / 5 years ago

Seoul shares open higher on EU deal; shipbuilders lead

SEOUL, July 2 (Reuters) - Seoul shares rose at market open on Monday, poised for a third-straight winning session as investors welcomed an agreement by euro zone leaders to directly recapitalize the region’s troubled banks and ease soaring debt costs in Spain and Italy.

Early gains were led by shipyards, as Samsung Heavy Industries climbed 3 percent while Daewoo Shipbuilding & Marine Engineering rose 2.5 percent.

The Korea Composite Stock Price Index (KOSPI) was up 0.63 percent at 1,865.71 points as of 0001 GMT. (Reporting by Joonhee Yu; Editing by Eric Meijer)

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