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An electronic board showing the Korea Composite Stock Price Index (Kospi) at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap) |
South Korean stocks opened higher Wednesday as investors sought to buy oversold stocks after the recent stock plunge.
The benchmark Korea Composite Stock Price Index (Kospi) rose 18.01 points, or 0.66 percent, to 2,738.4 in the first 15 minutes of trading.
On Tuesday, the key stock index closed at an almost 14-month low amid lingering uncertainties about the ongoing US Federal Reserve meeting.
Overnight, the tech-heavy Nasdaq composite plunged 2.58 percent amid expectations of the Fed's hawkish signals. The market consensus is that the Fed could make comments related to the first interest rate hike this year, widely expected in March.
In Seoul, top cap Samsung Electronics added 0.27 percent, and No. 2 chipmaker SK hynix increased 0.42 percent.
Leading chemical firm LG Chem grew 2.02 percent, and financial heavyweight KB Financial Group advanced 1.75 percent.
Among losers, internet portal operator Naver retreated 1.4 percent and leading automaker Hyundai Motor lost 0.26 percent.
The local currency was trading at 1,195.65 won against the US dollar, up 2.95 won from the previous session's close. (Yonhap)
