Stocks open higher on earnings reports

South Korean stocks opened slightly higher on Friday as investors responded to a mixed batch of third-quarter earnings reports.

The benchmark Korea Composite Stock Price Index edged up 1.11 points, or 0.05 percent, to 2,025.23 in the first 15 minutes of trading. 

Most large caps traded mixed.

Market kingpin Samsung Electronics rose 2.03 percent after its shareholders on Thursday approved the nomination of Vice Chairman Lee Jae-yong to the electronics giant's board of directors. Its third-quarter earnings dropped 30 percent on-year due to fallout from the Galaxy Note 7 smartphones.

Korea Power Electric Corp, the state-run power provider, slipped 1.57 percent, and leading steelmaker POSCO retreated 2.47 percent.

Wall Street stocks finished lower Thursday amid concerns about surging bond yields, led by losses in the real estate sector.

The local currency was trading at 1,145.7 won against the US dollar, down 3.2 won from the previous session's close. (Yonhap)