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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Friday. (Yonhap) |
Seoul shares opened higher Friday, tracking overnight gains on Wall Street after the US retail sales fell by a wider margin than expected, reviving hopes over the Federal Reserve's rate cuts.
The benchmark Korea Composite Stock Price Index gained 15.78 points, or 0.6 percent, to 2,629.58 in the first 15 minutes of trading.
Overnight, the Dow Jones Industrial Average move up 0.91 percent, with the tech-heavy Nasdaq climbing 0.3 percent.
The rise came after the US retail sales for January fell 0.8 percent on-month, sharper than the market's expectations.
In Seoul, leading battery maker LG Energy Solution advanced 2.91 percent, while top tech giant Samsung Electronics moved down 0.55 percent.
Financial firms gained ground, with Shinhan Financial moving up 1.98 percent and Kakao Bank jumping 1.34 percent.
LG Chemical increased 2.28 percent, and top oil refiner SK Innovation added 0.29 percent.
The local currency was trading at 1,330.8 won against the US dollar, up 3.2 won from the previous session's close. (Yonhap)
