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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) |
South Korean stocks opened higher Friday as investors await the US payrolls data, which will give clues for the Federal Reserve's future monetary tightening policy.
The benchmark Korea Composite Stock Price Index added 10.86 points, or 0.45 percent, to 2,414.46 in the first 15 minutes of trading.
Overnight, all three US indexes slipped as investors were on edge ahead of the release of monthly non-farm payrolls data to be released later in the day, which will be a decisive factor in forecasting whether the Fed will keep its rates in place next month or go for another hike.
On the Seoul bourse, top-cap shares traded mixed.
Market bellwether Samsung Electronics gained 0.15 percent, while No. 2 chipmaker SK hynix dropped 0.17 percent.
Battery shares traded in positive terrain, with industry leader LG Energy Solution advancing 0.96 percent and its smaller rival Samsung SDI inching up 0.1 percent.
POSCO shares also gained ground.
Steel giant POSCO Holdings jumped 1.76 percent and its battery component-making affiliate POSCO Future M added 1.05 percent.
IT and financial shares were also strong.
Internet portal operator Naver was up 1 percent, and Kakao, the operator of the country's top mobile messenger, was up 1.47 percent.
KB Financial Group, Shinhan Financial Group and Hana Financial Group jumped 1.68 percent, 2.04 percent and 2.69 percent, respectively.
But auto shares were weak, with Hyundai Motor down 0.31 percent and its affiliate Kia down 1.08 percent.
The local currency was trading at 1,345.60 won against the US dollar at 9:15 a.m., up 4.9 won from Thursday's close.
South Korean stock, ETF, derivatives and commodity markets will all be closed for the next three days, as Monday is the Hangeul Day holiday, which celebrates the proclamation of the Korean alphabet. (Yonhap)
