Seoul stocks open tad higher on chip gains

South Korean stocks opened slightly higher Monday on advances by chip heavyweights, backed by strong exports data.

The benchmark Korea Composite Stock Price Index rose 5.41 points, or 0.17 percent, to 3,113.03 points in the first 15 minutes amid foreign and institutional buying.

South Korea's exports rose 16.7 percent on-year in the first 20 days of February on strong shipments of chips and autos, according to the data from the Korea Customs Service.

Samsung Electronics added 0.97 percent, and No. 2 chipmaker SK hynix jumped 2.63 percent.

Leading chemical firm LG Chem retreated 1.91 percent, while rechargeable battery maker Samsung SDI shed 1.95 percent. Top automaker Hyundai Motor declined 0.83 percent.

Giant pharmaceutical firm Samsung Biologics went down 0.76 percent, while top internet portal operator Naver gained 0.38 percent.

The local currency was trading at 1,104.25 won against the US dollar, up 1.65 won from the previous session's close. (Yonhap)