South Korean stocks started higher on Tuesday, briefly trading above the 2,000 level for the first time in 37 months, driven by shares of automakers and power companies, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 2.77 points, or 0.14 percent, to 1,999.36 in the first 15 minutes of trading.
The key index briefly traded above the 2,000 level for the first time in 37 months before giving up gains. The benchmark index touched 2,017.37 during trading hours on Nov. 9, 2007 amid a stock market boom.
The local currency was trading at 1,141.15 won to the greenback as of 9:15 a.m., up 4.85 won from Monday’s close.