FINANCE

Seoul stocks open higher on bargain hunting

By Yonhap
  • Published : Oct 7, 2021 - 09:36
  • Updated : Oct 7, 2021 - 09:36

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap)
South Korean stocks opened higher Thursday as bargain hunters sought oversold stocks on expectations of a rebound.

The benchmark Korea Composite Stock Price Index (Kospi) rose 31.54 points, or 1.08 percent, to 2,939.85 points in the first 15 minutes of trading.

The key stock index got off to a strong start after three days of losses.

Market kingpin Samsung Electronics added 0.98 percent, but No. 2 chipmaker SK hynix retreated 0.73 percent.

Internet portal operator Naver jumped 2.41 percent, and pharmaceutical giant Samsung Biologics gained 1.64 percent.

Top automaker Hyundai Motor increased 1.03 percent, while leading chemical firm LG Chem shed 2.29 percent.

The local currency was trading at 1,189.95 won to the US dollar, up 2.35 won from the previous session's close. (Yonhap)