South Korean stocks got off to a strong start Monday, buoyed by Friday's Wall Street rally.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 18.35 points, or 1.59 percent, to 1,175.75 in the first 15 minutes of trading. The index rose further to 1,184.28 as of 10:52 a.m.
The Dow Jones industrial average shot up 2.94 percent to a two-month high Friday in the first session for 2009, shrugging off a report that U.S. factory output fell sharply in December. The tech-heavy Nasdaq gained 3.5 percent.
Financial shares spearheaded the overall rally on the local bourse amid massive buying by foreign investors.
The tech-loaded Kosdaq market was quoted at 344.94, up 5.18 points as of 10:52 a.m.
The local currency was trading at 1,316.35 to the U.S. dollar as of 9:15 a.m., up 4.65 won from Friday's close.