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The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Tuesday. (Yonhap) |
South Korean stocks opened higher Tuesday as investor sentiment improved over optimism for strong corporate earnings.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.62 points, or 0.73 percent, to 3,248.57 points in the first 15 minutes of trading.
Stocks rebounded after the KOSPI closed down nearly 1 percent the previous session on market jitters about China's clampdown on education tech firms and its property market.
Local large caps of various sectors continued to report robust earnings in the April-June period this week, signaling that South Korea's economy is continuing to recover.
Market kingpin Samsung Electronics advanced 0.51 percent, and No. 2 chipmaker SK hynix added 1.71 percent.
Internet portal operator Naver increased 2.1 percent, with its rival Kakao increasing 0.34 percent.
Pharmaceutical giant Samsung Biologics gained 0.78 percent, with top automaker Hyundai Motor up 0.45 percent. Leading chemical firm LG Chem climbed 1.35 percent.
The local currency was trading at 1,151 won to the US dollar, up 4 won from the previous session's close. (Yonhap)
