Seoul shares open higher on Wall Street gains


The Korea Composite Stock Price Index displayed on an electronic board at Hana Bank headquarters in Seoul showed a strong start, with a 1.37 percent surge in the first 15 minutes of trading. This rise was attributed to the positive performance of tech shares on Wall Street, particularly with Apple leading the gains and the Nasdaq reaching a new high for the third consecutive session. In Seoul, tech shares saw significant increases, with Samsung Electronics and SK hynix experiencing notable surges. Major players in other industries, such as pharmaceutical company Celltrion, battery maker LG Energy Solution, and automakers Hyundai Motor and Kia Motors, also showed positive movement. Additionally, the local currency, the won, strengthened against the US dollar. The bullish opening in the South Korean stock market, with the Korea Composite Stock Price Index surging over 1 percent, mirrored the overnight gains seen on Wall Street. The tech sector, led by Apple, drove the Nasdaq to a new high for the third consecutive session, even as the Dow Jones Industrial Average experienced a slight decrease. This positive momentum extended to the South Korean market, with notable gains observed in tech shares, as well as in various other industries, including pharmaceuticals, battery manufacturing, and automakers. Furthermore, the local currency showed strength against the US dollar, trading at 1,369 won, up 7.2 won from the previous session.


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