Seoul shares open higher on bargain hunting


South Korean stocks started the week on a positive note as investors sought out discounted opportunities following four consecutive days of losses. The Korea Composite Stock Price Index rose by 0.41 percent to 2,698.69 in the initial 15 minutes of trading. This upward trend was supported by gains in various sectors, including chemical and financial firms. While cosmetic giant AmorePacific and SK Innovation saw increases, tech leader Samsung Electronics experienced a slight decline. The local currency also showed strength, trading at 1,366.7 won against the US dollar, marking an increase from the previous session. At the Hana Bank headquarters in Seoul, an electronic board displayed the Korea Composite Stock Price Index, reflecting the positive start to the trading day. Despite dashed hopes for an early rate cut by the Federal Reserve, investors were optimistic and engaged in bargain hunting. This led to gains in the stock market, particularly in the chemical and financial sectors, with notable increases in shares of companies like AmorePacific and KB Financial. However, Samsung Electronics saw a slight decrease, while the local currency exhibited strength against the US dollar.


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