Seoul shares pierce 2000 level on auto, tech rallies

South Korean stocks breached the 2,000-point level on Friday, breaking their five-session losing streak as foreign and institutional investors swooped on auto and tech shares in hopes of improved first-quarter earnings, analysts said. The South Korean won rose against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.23 points, or 0.61 percent, to 2,004.28, breaking the 2,000-point level for the first time in five sessions since April 10 when it hit 2,008.61. Trading volume was moderate at 201.86 million shares worth 2.72 trillion won (US$2.6 billion), with gainers outnumbering losers 469 to 309.