South Korean stocks opened higher Monday on eased political uncertainties following the ouster of President Park Geun-hye over a corruption scandal.
The benchmark Korea Composite Stock Price Index rose 10.88 points, or 0.52 percent, to 2,108.23 as of 9:15 a.m.
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An image depicting the stock market (123RF) |
South Korea's Constitutional Court upheld the ouster of Park on Friday, acknowledging she abused her power to help her confidante Choi Soon-sil pursue personal gains.
"The decision removed political uncertainties, which in turn have had a positive effect on the bourse," said Kim Ye-eun, an analyst at Cape Investment & Securities.
The US stock market closed slightly higher Friday, with the Dow Jones industrial average advancing 0.21 percent.
Most large-cap stocks were mixed across the board.
Market bellwether Samsung Electronics Co. rose 0.45 percent, and No. 2 chipmaker SK hynix Inc. was up 0.61 percent.
Meanwhile, top auto parts maker Hyundai Mobis Co. was down 0.61 percent.
The local currency was trading at 1,149.95 won against the US dollar, up 7.45 won from the previous session's close. (Yonhap)
