Seoul stocks open higher on tech, auto gains

South Korean stocks opened higher Monday, led by advances of tech and auto stocks.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.09 points, or 0.47 percent, to trade at 3,024.32 points in the first 15 minutes of trading.

Stocks climbed despite a high number of coronavirus cases, with investors keeping an eye on the Federal Reserve for signals about the tapering of stimulus measures. The Fed is set to announce its two-day meeting results Wednesday (US time).

In Seoul, market bellwether Samsung Electronics advanced 0.91 percent, and No. 2 chipmaker SK hynix increased 1.66 percent.

Leading carmaker Hyundai Motor moved up 2.41 percent, with its smaller affiliate Kia adding 2.93 percent.

Among losers, giant pharmaceutical firm Samsung Biologics declined 0.22 percent, and electric car battery maker LG Chem lost 0.68 percent.

The local currency was trading at 1,180.05 won against the US dollar, up 1.25 percent from the previous session's close. (Yonhap)