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Seoul stocks start higher on Wall Street gains

All News 09:20 January 05, 2017

SEOUL, Jan. 5 (Yonhap) -- South Korean shares opened slightly higher Thursday, tracking overnight gains in the Wall Street after the U.S. central bankers hinted the possibility of faster rate hikes down the road to fend off higher inflation.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.74 point, or 0.04 percent, to 2,046.38 in the first 15 minutes of trading.

Most large caps traded mixed with market kingpin Samsung Electronics falling 0.44 percent.

Top automaker Hyundai Motor declined 0.97 percent, while top steelmaker POSCO rose 0.2 percent.

Naver, the operator of the country's top Internet portal, shed 0.86 percent.

The local currency was trading at 1,191.25 won against the U.S. dollar, up 15.15 won from the previous session's close.

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