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Stocks open higher on automakers

All News 09:24 April 07, 2017

SEOUL, April 7 (Yonhap) -- South Korean stocks opened slightly higher Friday, led by gains in automakers and steelmakers.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 1.78 point, or 0.08 percent, to 2,154.53 in the first 15 minutes of trading.

Large caps traded mixed, with market kingpin Samsung Electronics shedding 1.1 percent.

The tech behemoth estimated its first-quarter operating profit at 9.9 trillion won (US$8.76 billion), up 48.2 percent on-year, apparently helped by the robust performance of its chip business.

SK hynix, a major chipmaker, advanced 1.1 percent.

POSCO, the country's leading steelmaker, was 0.37 percent higher, and Hyundai Motor, the No. 1 automaker, moved up 0.68 percent.

The local currency was trading at 1,131.80 won against the U.S. dollar, up 1.40 won from the previous session's close.


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