Seoul stocks open higher on stabilizing currency market

Published : Oct 14, 2021 - 09:55 Updated : Oct 14, 2021 - 09:55

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap)

South Korean stocks opened higher Thursday, as investors were relieved by the stable currency rate.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 25.39 points, or 0.86 percent, to 2,969.8 in the first 15 minutes of trading.

Stocks came off to a bullish start, as the Korean won advanced against the US dollar, after depreciating sharply against the greenback over the past few days.

The local currency was trading at 1,188.25 won against the US dollar, up 5.55 won from the previous session's close.

Market bellwether Samsung Electronics Co. added 0.58 percent to 69,200 won, No. 2 chipmaker SK hynix Inc. increased 0.98 percent to 92,900 won, and internet portal operator Naver Corp. gained 1.96 percent to 389,500 won.

LG Chem Ltd. rose 2.23 percent to 826,000 won, and electric battery maker Samsung SDI Co. climbed 0.75 percent to 676,000 won.

Among losers, top automaker Hyundai Motor Co. lost 0.47 percent to 210,000 won. (Yonhap)