Korean shares open higher despite US losses

South Korean stocks opened higher Monday, despite losses on Wall Street late last week.

The benchmark Korea Composite Stock Price Index gained 2.82 points, or 0.13 percent, to 2,163.05 in the first 15 minutes of trading.

The broad index didn't follow Friday's losses on Wall Street.

The Dow Jones industrial average dropped 0.31 percent, with the tech-heavy Nasdaq composite index declining 0.04 percent.

Large-cap stocks were mixed across the board. Market bellwether Samsung Electronics Co. gained 0.92 percent, and No. 2 chipmaker SK hynix Inc. was up 2.38 percent.

Meanwhile, the state-run utility firm Korea Electric Power Corp. declined 0.43 percent, and top automaker Hyundai Motor was down 1.27 percent.

The local currency was trading at 1,114.75 won against the US dollar, up 3.65 won from the previous session's close. (Yonhap)