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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, Wednesday. (Yonhap) |
South Korean stocks opened higher Wednesday, backed by strong advances by giant tech shares.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.59 points, or 0.53 percent, to 2,748.27 in the first 15 minutes of trading.
The index rebounded after a 1.6 percent plunge the previous session, as optimism for a better corporate environment next year pushed up tech stocks.
On Wall Street, the tech-heavy Nasdaq composite advanced 0.51 percent, while the Dow Jones Industrial Average closed down 0.67 percent and the S&P 500 lost 0.21 percent due to a new strain of COVID-19 in Britain.
In Seoul, large caps traded higher.
Market bellwether Samsung Electronics added 0.69 percent, and No. 2 chipmaker SK hynix gained 0.89 percent.
Internet portal giant Naver moved up 1.23 percent, with its rival Kakao adding 1.73 percent.
Pharmaceutical giant Samsung Biologics edged up 0.12 percent, and Celltrion rose 0.97 percent.
Leading chemical firm LG Chem traded flat, and rechargeable battery maker Samsung SDI moved down 0.36 percent.
Hyundai Motor, the country's largest carmaker, lost 0.27 percent.
The local currency was trading at 1,108.9 won against the US dollar, down 1.5 won from the previous session's close. (Yonhap)
