Seoul shares start higher on US gains
The benchmark Korea Composite Stock Price Index rose 25.68 points, or 0.81 percent, to 3,215.59 in the first 15 minutes of trading.
US stocks finished higher on the better-than-expected consumer prices report, sparking hopes that the Federal Reserve may cut its key rate at its next meeting in September.
The Dow Jones Industrial Average rose 1.1 percent, and the Nasdaq composite advanced 1.39 percent.
In Seoul, most shares started in positive territory.
Market bellwether Samsung Electronics rose 0.84 percent, and chip giant SK hynix jumped 2.42 percent.
Top carmaker Hyundai Motor gained 1.17 percent, and major shipbuilder HD Korea Shipbuilding & Offshore Engineering vaulted 7.02 percent.
Samyang Foods, an instant noodle maker well known for its global hit Buldak ramyeon, increased 0.21 percent, and national flag carrier Korean Air climbed 3.14 percent.
The local currency was trading at 1,383.95 won against the greenback at 9:15 a.m., up 5.95 won from the previous session. (Yonhap)
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Seoul shares start higher on US gains
South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street driven by rate cut hopes. The benchmark Korea Composite Stock Price Index rose 25.68 points, or 0.81 percent, to 3,215.59 in the first 15 minutes of trading. US stocks finished higher on the better-than-expected consumer prices report, sparking hopes that the Federal Reserve may cut its key rate at its next meeting in September. The Dow Jones Industrial Average rose 1.1 percent, and the Nasdaq composite advanced 1.39 percent. In Seoul, most shares started in positive territory. Market bellwether Samsung Electronics rose 0.84 percent, and chip giant SK hynix jumped 2.42 percent. Top carmaker Hyundai Motor gained 1.17 percent, and major shipbuilder HD Korea Shipbuilding & Offshore Engineering vaulted 7.02 percent. Samyang Foods, an instant noodle maker well known for its global hit Buldak ramyeon, increased 0.21 percent, and national flag carrier Korean Air climbed 3.14 percent. The local currency was trading at 1,383.95 won against the greenback at 9:15 a.m., up 5.95 won from the previous session. (Yonhap)
