Seoul shares open tad higher on upcoming US-China trade talks
South Korean stocks opened a tad higher Wednesday on news that the United States and China will start trade talks later this week following President Donald Trump's tariff policies.
The Korean won also started sharply higher to trade at a six-month high of 1,380 won per dollar at the opening.
The benchmark Korea Composite Stock Price Index added 0.74 point, or 0.03 percent, to 2,560.53 in the first 15 minutes of trading.
The Washington-Beijing trade negotiations are scheduled to take place in Switzerland this weekend, with US Treasury Secretary Scott Bessent and China's Vice Premier He Lifeng attending.
Wall Street, however, finished lower before the announcement of the US-China trade talks.
The Dow Jones Industrial Average fell 0.95 percent, and the Nasdaq composite lost 0.87 percent.
In Seoul, most shares started in positive territory.
Market bellwether Samsung Electronics rose 0.28 percent and its chipmaking rival SK hynix gained 0.7 percent.
Leading battery maker LG Energy Solution increased 0.39 percent, and top defense firm Hanwha Aerospace went up 2.69 percent.
The local currency was trading at 1,384.35 won against the US dollar at 9:15 a.m., up 26.05 won from the previous session. (Yonhap)
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