Seoul shares open higher on carmakers, financials

South Korean stocks opened higher Monday due mainly to gains by carmakers and financial firms, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) added 2.38 points, or 0.12 percent, to 2,047.25 in the first 15 minutes of trading.

Carmakers gathered ground, with No. 1 Hyundai Motor rising 0.6 percent and its smaller affiliate Kia Motors adding 0.17 percent. Auto parts maker Hyundai Mobis rose 0.98 percent.

Financial firms also traded bullish, with Shinhan Financial moving up 2.13 percent and KB Financial increasing 2.52 percent.

Hana Financial gained 0.88 percent and Woori Financial climbed 0.79 percent.

The local currency was trading at 1,057.45 won to the U.S. dollar as of 9:15 a.m., up 0.75 won from Friday's close. (Yonhap News)