Seoul stocks open higher on hopes UK will remain in EU

[THE INVESTOR] South Korean shares opened higher on June 24 as the first poll after the Brexit vote on June 23 showed signs of Britain remaining in the European Union.

The benchmark Korea Composite Stock Price Index soared 8.68 points, or 0.44 percent, to 1,995.39 during the first 15 minutes of trading.

All eyes are on the outcome of the Brexit poll due out at around 3 p.m. Friday (Korean time) after the referendum ended at 6 a.m. on the same day.

Large-cap stocks advanced across the board.

Market top cap Samsung Electronics hiked 0.49 percent, and electric provider Korea Electric Power Corp. fell 0.85 percent. SK Group’s chipmaker SK hynix advanced 3.15 percent.

Among decliners, automaker Hyundai Motor fell 0.35 percent and No. 1 refiner SK Innovation slid 0.34 percent.

The local currency was trading at 1,148.65 won against the US dollar, a 1.45 won rise from the previous session‘s close.

(theinvestor@heraldcorp.com)