Seoul shares open higher on bargain hunting


On Friday, South Korean stocks opened higher as investors capitalized on discounted tech, auto, and other major company stocks following losses in the preceding session. The Korea Composite Stock Price Index (Kospi) rose by 13.53 points, or 0.51 percent, reaching 2,675.81 within the first 15 minutes of trading. In the US, stocks experienced mixed results, with the Dow Jones Industrial Average increasing by 0.59 percent, the S&P 500 remaining flat, and the Nasdaq composite edging 0.23 percent higher. Samsung Electronics and chip rival SK hynix in Seoul saw gains of 0.81 percent and 0.53 percent, respectively, in response to Nvidia's earnings announcement. Additionally, automotive and bio shares also saw positive movement, with Hyundai Motor rising by 1.55 percent and Samsung Biologics adding 0.52 percent. Conversely, battery makers experienced a retreat after recent gains, with LG Energy Solution leading the decline by shedding 0.64 percent. The local currency was trading at 1,334.25 won against the US dollar, representing a decrease of 1.05 won from the previous session.


Previous Post Next Post