Seoul shares open higher on US gains, commercial act revision
The benchmark Korea Composite Stock Price Index rose 25.66 points, or 0.83 percent, to 3,100.72 in the first 15 minutes of trading.
Investors welcomed the news about a compromise between rival parties on the revision of the shareholder-friendly Commercial Act, as well as a tariff agreement between the US and Vietnam.
Overnight, the S&P 500 index and the tech-heavy Nasdaq composite rose 0.47 percent and 0.94 percent, respectively, both closing at record highs. The Dow Jones Industrial Average edged down 0.02 percent.
In Seoul, most big-cap tech shares opened higher.
Market bellwether Samsung Electronics surged 2.8 percent, while chip giant SK hynix opened unchanged.
Leading battery maker LG Energy Solution surged 1.82 percent, and top steelmaker POSCO Holdings soared 5.38 percent.
Carmakers opened higher. Top automaker Hyundai Motor climbed 1.17 percent, and its sister affiliate Kia advanced 1.2 percent.
Leading financial firm KB Financial went up 0.62 percent, and defense giant Hanwha Aerospace jumped 3.42 percent.
Top online portal operator Naver increased 0.4 percent, and Kakao, the operator of the country's dominant mobile messenger, climbed 2.39 percent.
The local currency was trading at 1,354.3 won against the greenback at 9:15 a.m., up 4.4 won from the previous session. (Yonhap)
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Korea Herald
2 hours ago
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