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Seoul stocks open higher on U.S. gains

All News 09:31 June 07, 2018

SEOUL, June 7 (Yonhap) -- South Korean stocks opened higher Thursday led by overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 22.79 points, or 0.93 percent, to 2,476.55 in the first 20 minutes of trading.

U.S. stocks gained for the fourth consecutive session on Wednesday on strong economic data.

Large-cap shares rose across the board with market kingpin Samsung Electronics climbing 0.39 percent. SK hynix, a major chipmaker, was 1.43 percent up.

Bank shares also gained, with KB Financial Group surging 3.45 percent, and Shinhan Financial Group soaring 2.62 percent.

Top steelmaker POSCO jumped 3.4 percent, and leading chemical firm LG Chem advanced 2.75 percent.

No. 1 carmaker Hyundai Motor added 0.7 percent, while Samsung Biologics, the healthcare unit of Samsung Group, fell 0.59 percent.

The South Korean currency was trading at 1,066.90 won against the U.S. dollar, up 3.8 won from the previous session's close.


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