Seoul stocks open higher on improved US retail sales

South Korean stocks opened higher Friday, as estimate-beating US retail sales data boosted economic rebound hopes in the world's largest economy.

The benchmark Korea Composite Stock Price Index rose 11.32 points, or 0.52 percent, to 2,195.08 in the first 15 minutes of trading.

The gains came after US retail sales in June jumped 7.5 percent from a month ago, after an 18.2 percent hike in May.

The data fueled expectations of a recovery in the United States, one of South Korea's largest trade partners.

In Seoul, large caps traded mixed.

Market behemoth Samsung Electronics rose 1.12 percent, with No. 2 chipmaker SK hynix adding 0.48 percent.

Top automaker Hyundai Motor jumped 2.27 percent, and leading steelmaker POSCO climbed 1.07 percent.

Among decliners, pharmaceutical giant Samsung BioLogics lost 1.23 percent.

Internet giant Naver lost 2.69 percent, with its rival Kakao falling 2.27 percent.

The local currency was trading at 1,204.05 won against the US dollar, up 1.55 won from the previous session's close. (Yonhap)