Seoul stocks open higher on techs, autos

South Korean stocks opened higher Wednesday after closing at a record-high level for two consecutive days through the previous session on the back of gains from technology and automobile shares.

The benchmark Korea Composite Stock Price Index (Kospi) increased 8.52 points, or 0.26 percent, to 3,267.15 in the first 15 minutes of trading.

On Wednesday, the index reached an intraday-record of 3,269.42.

Overnight, the Dow Jones Industrial Average moved down 0.27 percent, and the tech-heavy Nasdaq Composite fell 0.71 percent, amid the two-day Federal Open Market Committee meeting that runs through Wednesday (US time).

In Seoul, blue-chip shares gained ground across the board.

Market kingpin Samsung Electronics rose 0.62 percent while No. 2 chipmaker SK hynix remained unchanged. Battery maker Samsung SDI moved up 0.27 percent.

Carmakers also traded higher, with Hyundai Motor rising 2.11 percent and Kia gaining 1.58 percent. Auto parts maker Hyundai Mobis climbed 0.52 percent.

The local currency was trading at 1,118.45 won against the US dollar, down 1.45 won from the previous session's close. (Yonhap)