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Seoul stocks open higher ahead of earnings season

All News 09:28 January 10, 2018

SEOUL, Jan. 10 (Yonhap) -- South Korean stocks opened higher Wednesday as investors picked up shares with an upbeat business prospect ahead of quarterly earnings releases.

The benchmark Korea Composite Stock Price Index gained 2.92 points, or 0.12 percent, to 2,513.15 in the first 15 minutes of trading.

Market bellwether Samsung Electronics declined 1.63 percent after posting a weaker-than-expected operating profit estimates for the fourth quarter on Monday due to a strong local currency. SK hynix, a major chipmaker, sank 3.25 percent.

Cosmetic shares were in positive terrain on brisk sales prospects in China and Southeast Asian nations.

Industry leader AmorePacific rose 2.01 percent, and its smaller rival LG Household & Healthcare increased 3.14 percent.

Samsung SDS, Samsung's IT service unit, rose 2.07 percent as investors bet on its blockchain platform Nexledger amid rising interest in crytocurrencies.

The local currency was trading at 1,071.3 won against the U.S. dollar, down 4.1 won from the previous session's close.

ejkim@yna.co.kr
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