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Stocks open higher on Wall Street gains

All News 09:20 September 07, 2016

SEOUL, Sept. 7 (Yonhap) -- South Korean stocks opened slightly higher on Wednesday on overnight gains in Wall Street, aided by growing speculation that an interest rate hike in the U.S. may be delayed.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.36 points, or 0.16 percent, to 2,069.89 in the first 15 minutes of trading.

U.S. stocks rose slightly on Tuesday, with the tech-laden Nasdaq Composite reaching a record high, as economic data cemented views that the Fed may hold off its much-awaited decision.

Most large caps traded mixed with market kingpin Samsung Electronics rising 0.24 percent.

Top automaker Hyundai Motor shed 0.36 percent, and top steelmaker POSCO gained 1.05 percent.

Naver, the operator of the country's top internet portal, remained flat.

The local currency was trading at 1,092.95 won against the U.S. dollar, sharply up 12.25 won from the previous session's close.


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