Seoul shares open higher on US tech gains


The Korea Composite Stock Price Index was displayed on an electronic board at the dealing room of Hana Bank headquarters in Seoul on Wednesday. South Korean stocks opened higher, following the overnight increase in US big tech shares. Within the first 15 minutes of trading, the benchmark Korea Composite Stock Price Index rose by 9.05 points, or 0.33 percent, to 2,714.37. The US stock market closed with mixed results as investors showed caution ahead of the conclusion of the Federal Open Market Committee meeting on Wednesday. While the Dow Jones Industrial Average fell by 0.31 percent to close at 38,747.42, the tech-heavy Nasdaq reached a new high of 17,343.55, advancing by 0.88 percent. In Seoul, most major companies had a positive start, with Samsung Electronics gaining 0.40 percent, SK hynix advancing by 0.47 percent, and LG Energy Solution climbing by 0.42 percent. Meanwhile, Samsung SDS added 0.13 percent and Amorepacific, a leading cosmetics firm, surged by 4.15 percent. Hyundai Motor, the top automaker, experienced a decline of 0.55 percent, counterbalanced by its smaller affiliate, Kia Motors, which was up 0.41 percent. The local currency was trading at 1,379.35 won against the US dollar, marking a decrease of 0.95 won from the previous session's close. (Yonhap)


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