FINANCE

Seoul stocks open higher on US tech gains, easing virus woes

By Yonhap
  • Published : Oct 19, 2021 - 09:31
  • Updated : Oct 19, 2021 - 09:31

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Tuesday. (Yonhap)
South Korean stocks opened higher Tuesday, tracking overnight advances on Wall Street and eased concerns over the pandemic.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 25.48 points, or 0.85 percent, to 3,032.16 in the first 15 minutes of trading.

Stocks got off to a strong start on overnight gains on Wall Street and easing virus woes.

Overnight, the tech-heavy Nasdaq composite added 0.84 percent to 15,022 points as investors monitor the inflation factors, while the Dow Jones Industrial Average slipped 0.1 percent to 35,259 points. 

South Korea's new virus cases hit a three-month low Monday amid progress in vaccinations.

Most large caps traded higher in Seoul.

Market bellwether Samsung Electronics increased 1 percent to 70,900 won, and No. 2 chipmaker SK hynix gained 0.82 percent to 97,900 won.

Top automaker Hyundai Motor Co. added 0.48 percent to 210,500 won.

Leading car battery firm LG Chem Ltd. climbed 1.09 percent to 836,000 won, and internet portal operator Naver rose 0.76 percent to 399,500 won.

The local currency was trading at 1,183.85 won against the US dollar, down 3.75 won from the previous session's close. (Yonhap)