Seoul stocks open higher on eve of Trump-Kim summit

SEOUL, June 11 (Yonhap) -- South Korean stocks opened higher Monday, as investors hunted for bargains, amid growing expectations ahead of the historic summit between the leaders of the United States and North Korea.

The benchmark Korea Composite Stock Price Index (KOSPI) added 8.04 points, or 0.33 percent, to 2,459.62 in the first 15 minutes of trading.

All eyes are now on Singapore, where U.S. President Donald Trump and North Korean leader Kim Jong-un are to hold talks on the North's nuclear weapons programs.

Blue chips traded mixed, with steel shares leading the gain on hopes for development projects in the North.

Top steelmaker POSCO spiked 2.64 percent, and its smaller rival Hyundai Steel advanced 1.15 percent.

Market kingpin Samsung Electronics rose 0.3 percent, and SK hynix, a major chipmaker, surged 1.36 percent. But top automaker Hyundai Motor shed 0.71 percent, and LG Chem tumbled 2 percent.

The national currency was trading at 1,073.5 won against the U.S. dollar, up 2.7 won from the previous session's close.

graceoh@yna.co.kr
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