Seoul stocks open higher on fading Brexit woes

[THE INVESTOR] South Korean shares opened higher on June 22 as the possibility of Britain’s exit from the European Union in upcoming vote continue to fade.

New polls showed that the voter sentiment is now edging closer toward “remain” and the expectation is gaining support, analysts said.

The benchmark Korea Composite Stock Price Index hiked 5.93 points, or 0.30 percent, to 1,988.37 during the first 15 minutes of trading.

Supporting the broader index, automaker Hyundai Motor soared 2.17 percent, top refiner SK Innovation gained 2.17 percent, and cosmetics manufacturer AmorePacific rose 0.84 percent.

Blue chip Samsung Electronics slid 0.62 percent, and electric provider Korea Electric Power Corp. fell 0.51 percent.

The local currency was trading at 1,154.25 won against the US dollar, a 2.40-won increase from the previous session’s close.


(theinvestor@heraldcorp.com)