Seoul stocks rise on Wall Street gains

South Korean stocks opened slightly higher Friday, taking a cue from Wall Street gains that stemmed from positive economic data.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 4.38 points, or 0.13 percent, to trade at 3,286.44 points as of 9:15 a.m.

Stocks advanced despite rising concerns over the new coronavirus outbreaks, backed by hopes of a fast global economic rebound.

Overnight, the Dow Jones Industrial Average added 0.38 percent on improving manufacturing and jobless data. The tech-heavy Nasdaq Composite and the S&P 500 both climbed 0.13 and 0.52 percent, respectively.

In Seoul, market bellwether Samsung Electronics edged up 0.12 percent, while No. 2 chipmaker SK hynix retreated 1.2 percent.

Internet portal operator Naver lost 0.97 percent, while giant pharmaceutical firm Samsung Biologics moved up 0.58 percent.

Top automaker Hyundai Motor decreased 0.21 percent, but leading chemical firm LG Chem increased 0.24 percent.

The local currency was trading at 1,134.95 won against the US dollar, down 1.85 won from the previous session's close. (Yonhap)