Seoul stocks open higher on US gains

South Korean shares opened slightly higher Tuesday, following overnight gains on Wall Street boosted by strong U.S. jobs data and cautious optimism about the world's No. 1 economy.

The benchmark Korea Composite Stock Price Index rose 3.08 points, or 0.15 percent, to 1,991.62 in the first 15 minutes of trading.

The KOSPI's advance, however, was limited due to a burden from a 0.83 percent rise a day earlier. Institutional investors were net sellers, while foreigners and individuals were net buyers.

In New York, the S&P 500 soared to an all-time high of 2137.16, and the Dow Jones industrial average climbed 80 points to close at 18226.93.

Top cap Samsung Electronics Co. rose 0.60 percent, and leading automaker Hyundai Motor Co. also added 0.38 percent. The state-run Korea Electric Power Corp. slid 0.5 percent.

The local currency was trading at 1,149.55 won against the U.S. dollar, down 2.85 won from the previous session's close. (Yonhap)