FINANCE

Seoul stocks open higher on Wall Street

By Yonhap
  • Published : Jul 1, 2020 - 09:27
  • Updated : Jul 1, 2020 - 09:27

(Yonhap)

South Korean shares opened higher Wednesday, taking a cue from overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 18.21 points, or 0.86 percent, to 2,126.54 in the first 15 minutes of trading.

The strong start came after major US stock indices closed higher on growing hopes of an economic recovery.

The Dow Jones Industrial Average added 0.85 percent to end at 25,812.88 on Tuesday (New York time), with the tech-laden NASDAQ soaring 1.87 percent.

In Seoul, most large caps traded higher.

Market bellwether Samsung Electronics advanced 0.95 percent, with No. 2 chipmaker SK hynix surging 1.65 percent.

Top pharmaceutical firm Samsung BioLogics edged up 0.13 percent, while leading chemical maker LG Chem jumped 2.14 percent.

The local currency was trading at 1,198.95 won against the US dollar, up 4.05 won from the previous session's close. (Yonhap)