Seoul shares open higher on eased Brexit fears

[THE INVESTOR] South Korean shares opened higher on June 20 due to eased Brexit concerns following the murder of a British politician who was in favor of remaining in the European Union.

Polls conducted after her murder last week show that more citizens now favor staying in the EU rather than leaving, a contrast from earlier.

The benchmark Korea Composite Stock Price Index soared 18.15 points, or 0.87 percent, to 1,970.38 during the first 15 minutes of trading.

Most large cap stocks traded higher. 

 

Top market cap Samsung Electronics gained 0.49 percent, while automaker giant Hyundai Motor increased 0.74 percent, and state-run utility Korea Electric Power Corp. rose 2.05 percent.

Among losers, leading cosmetics maker AmorePacific slid 0.12 percent and No. 3 refiner S-Oil was down 0.25 percent.

The local currency was trading at 1,164.35 won against the US dollar, up 8.35 won from the previous session’s close.

(theinvestor@heraldcorp.com)