S. Korean stocks open higher on reduced chance for U.S. rate hike
SEOUL, June 7(Yonhap) --South Korean stocks started higher Friday as weaker than expected job data from the U.S. reduced the chance of an imminent rate hike in the world's largest economy.
The benchmark Korea Composite Stock Price Index (KOSPI) added 12.63 points, or 0.64 percent, to 1,998.47 in the first 15 minutes of trading.
The local stock market got off to a strong start as U.S. job data for May has weakened the possibility of a June rate hike by the Federal Reserve.
Top market cap Samsung Electronics advanced 0.94 percent, and global chipmaker SK hynix was up 2.27 percent.
Top steelmaker POSCO stepped up 4.93 percent, and Hyundai Steel also gained 2.29 percent.
Leading oil refiner SK Innovation gained 3.21 percent, and No. 3 S-Oil moved up 1.7 percent.
South Korea's won was trading at 1,163.3 won against the U.S. dollar, sharply up 20.3 won from the previous session.
khj@yna.co.kr
(END)
-
N.K. leader declares victory in fight against COVID-19: state media
-
DP slams Yoon's absence during record rainfall
-
(News Focus) Samsung's Lee expected to solidify leadership, step up biz activities after receiving pardon
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
(2nd LD) PPP approves leadership shift, names interim leader
-
(5th LD) 8 dead, 7 missing in record rainfall in Seoul, surrounding areas
-
(2nd LD) Samsung heir Lee granted special presidential pardon
-
(News Focus) Samsung's Lee expected to solidify leadership, step up biz activities after receiving pardon
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
16 dead, missing in record rainfall in Seoul, surrounding areas in 3 days
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
Conservative activists hold rally in downtown Seoul on Liberation Day
-
S. Korea expresses deep regret over Japanese PM's offering to war shrine
-
Bank's refusal to open account for foreigner with long name 'discriminatory': rights watchdog
-
SK invests $250 mln in U.S. reactor startup TerraPower