Seoul shares open sharply higher on Wall Street gains


The Korea Composite Stock Price Index displayed on an electronic board at Hana Bank headquarters in Seoul surged by 26.07 points, or 0.97 percent, in the first 15 minutes of trading, following overnight gains on Wall Street. The Dow Jones Industrial Average closed 0.58 percent higher, the S&P 500 advanced 0.97 percent, and the Nasdaq composite finished 1.39 percent higher, alleviating concerns about a potential recession in the United States that had previously impacted the global market. In response to this positive trend, South Korean stocks opened significantly higher, with top companies like Samsung Electronics and SK hynix experiencing notable gains. Additionally, trading companies and carmakers also saw bullish openings, contributing to the overall positive market sentiment. The benchmark Korea Composite Stock Price Index at Hana Bank headquarters in Seoul saw a rapid increase of 26.07 points, or 0.97 percent, in the first 15 minutes of trading, driven by the previous night's gains on Wall Street. The Dow Jones Industrial Average, S&P 500, and Nasdaq composite all closed higher, easing concerns about a potential recession in the United States and positively impacting the global market. This led to a surge in South Korean stocks, with major companies like Samsung Electronics and SK hynix experiencing significant gains. Furthermore, trading companies and carmakers also opened on a bullish note, contributing to the overall positive market sentiment.


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