Seoul stocks open higher as US Treasury yields fall

South Korean stocks opened higher Tuesday, tracking overnight advances on Wall Street amid falling Treasury yields.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.72 points, or 0.42 percent, to 3,058.43 points in the first 15 minutes of trading.

Overnight, the tech-heavy Nasdaq Composite added 1.05 percent, as the yield on the US 10-year Treasury note fell, easing investor concerns over earlier-than-expected post-pandemic inflation.

In Seoul, top cap Samsung Electronics gained 0.61 percent, and No. 2 chipmaker SK hynix advanced 2.2 percent.

Leading chemical firm LG Chem lost 5.9 percent, and rechargeable battery maker Samsung SDI declined 1.02 percent. Top automaker Hyundai Motor climbed 0.86 percent.

Giant pharmaceutical firm Samsung Biologics went up 1.5 percent, and top internet portal operator Naver rose 0.78 percent.

The local currency was trading at 1,133.75 won against the US dollar, up 2.55 won from the previous session's close. (Yonhap)