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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 Thursday. (Yonhap) |
South Korean stocks opened higher Thursday, tracking overnight gains on Wall Street, as the latest US data bolstered bets that the US Federal Reserve may pause the interest rate hike in the next policy meeting.
The benchmark Korea Composite Stock Price Index rose 4.57 points, or 0.18 percent, to 2,565.79 in the first 15 minutes of trading.
The US economy grew at a 2.1 percent annual pace in the second quarter, falling short of a 2.4 percent expansion estimate.
Payrolls in the private sector slowed more than expected to 177,000 in August in a sign of a moderate labor market.
The latest economic data reinforced the expectation that the Fed will not raise the interest rate at its upcoming policy meeting in September.
In Seoul, tech blue-chip companies advanced. Market behemoth Samsung Electronics rose 0.15 percent, and chipmaker SK hynix went up 1.93 percent.
Battery makers were mixed. LG Energy Solution fell 0.54 percent, and Samsung SDI added 0.17 percent.
Top automaker Hyundai Motor slid 0.6 percent, with its smaller affiliate Kia inching down 0.12 percent.
The local currency was trading at 1,321.80 won against the US dollar at 9:15 a.m., up 1.6 won from Wednesday's close. (Yonhap)
