Seoul stocks open higher on tech, financial advance

South Korean stocks opened higher Wednesday on advances in tech and financial shares.

The benchmark Korea Composite Stock Price Index (Kospi) added 16.47 points, or 0.55 percent, to 3,013.8 points in the first 15 minutes of trading.

Bank and insurance shares went up amid expectations the Bank of Korea might raise the key interest rate Thursday.

Market bellwether Samsung Electronics gained 0.53 percent, and No. 2 chipmaker SK hynix increased 0.84 percent.

Internet portal operator Naver slipped 0.12 percent, while pharmaceutical giant Samsung Biologics moved up 0.35 percent.

Banking top cap Kakao Bank advanced 0.92 percent, KB Financial Group climbed 1.75 percent, and Kakao Pay rose 1.13 percent.

The local currency was trading at 1,189.25 won against the US dollar, up 0.45 won from the previous session's close. (Yonhap)