Seoul shares open higher on Wall Street gains


South Korean stocks started higher on Wednesday, following the upward trend in Wall Street driven by the US producer price index coming in lower than expected. The Korea Composite Stock Price Index (KOSPI) rose by 1.12 percent to 2,650.74 in the initial 15 minutes of trading. In response to the softer producer price data in the US, major indexes gained ground, fueling expectations of potential rate cuts by the Federal Reserve. In Seoul, market leaders such as Samsung Electronics and SK hynix saw gains of 1.97 percent and 3.3 percent, respectively. Meanwhile, LG Energy Solution and Samsung SDI, as well as other companies including Posco Holdings and LG Chem, also experienced positive growth. Additionally, the local currency, the won, strengthened against the US dollar, trading at 1,364.25 won, representing an increase of 6.15 won from the previous session's close.


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