Seoul shares open higher on Wall Street rebound


Seoul's stock market opened with a positive note on Tuesday, driven by the performance of chipmakers and auto companies, mirroring the gains seen in the US market the previous day. The Korea Composite Stock Price Index, which had experienced four consecutive days of decline, rose by 32.30 points, or 1.17 percent, reaching 2,795.81 within the first 15 minutes of trading. This increase was attributed to the rebound of major US tech stocks, such as Nvidia, ASML, Microsoft, and Alphabet, following a period of decline. Notable companies contributing to the positive trend in Seoul included Samsung Electronics, SK hynix, Hyundai Motor, Kia, and Hyundai Mobis, all of which saw significant gains in their stock prices. Additionally, financial shares also demonstrated a strong start, with KB Financial and Hana Financial registering notable increases. Furthermore, the local currency was observed trading at 1,387.00 won against the US dollar at 9:15 a.m., marking a 1.20 won rise from the previous session's close.


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