SEOUL: Seoul shares rose on Friday, encouraged by signs of economic recovery in the US following a string of positive data and easing global liquidity concerns.
The Korea Composite Stock Price Index (KOSPI) was up 1.13 percent at 1,868.37 points as of 0220 GMT.
"The market is tracking its Asian peers, which found strength on more optimistic views on the global economy from encouraging data and easing liquidity concerns in banks," said Hong Soon-pyo, a market analyst at Daishin Securities.
The number of Americans filing new claims for jobless benefits hit a 3-1/2 year low last week, possible signs of a strengthening US economy.
Lorenzo Bini Smighi, an executive board member of the Central Bank said in an interview with the Financial Times that a quantitative-easing policy was in the cards for the ECB if the unfolding debt crisis required broader policy options.
Shares in GS Retail Co hit the ground running on their first day of trading, up 3.18 percent from their mid-range IPO price point of 19,500 won.
Crude oil refiners led the rally after Brent crude futures remained steady above $107, riding expectations of strong demand on signs of economic recovery and prospects of supply disruptions from the Middle East.
S-Oil Corp, South Korea's third-largest oil refiner, climbed 3.37 percent while SK Innovation, parent of the country's largest, gained 1.68 percent.
Large-cap technology shares also lent support, with Samsung Electronics edging 1.81 percent higher while LG Display advanced 2.61 percent.
Hynix Semiconductor Inc soared 2.84 percent on expectations for new investment in the firm following its $3 billion takeover via SK Telecom last month.
Shares in Kumho Industrial Co rose 1.76 percent on reports that the firm was selling assets worth 1 trillion won including its stake in Kumho Express.
Woori Financial Holdings pared losses after tumbling as much as 4.4 percent on reports that the company was mulling an up to 1.5 trillion won ($1.3 billion) rights offer, with investors concerned such a move would dilute share value. Woori officially denied the reports.
Foreign investors snapped up a net 24.6 billion won worth of shares, while institutions bought 45.3 billion won worth.
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