Seoul shares open higher on tech, auto stocks

SEOUL, July 3 (Yonhap) -- South Korean stocks opened higher Tuesday as individual investors bought tech and other large-cap stocks on bargain hunting.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.74 points, or 0.34 percent, to 2279.28 in the first 15 minutes of trading. The main index fell 3.6 percent during the past seven sessions through Monday.

Individuals bought 12.32 billion won (US$11 million) worth of stocks. But foreigners and institutions sold a combined 17.99 billion won.

Tech, auto and steel stocks led gains, with market bellwether Samsung Electronics Co. rising 1.1 percent, top carmaker Hyundai Motor Co. climbing 0.81 percent and leading steelmaker POSCO gaining 0.79 percent.

Among decliners, the state-run Korea Electric Power Corp. fell 1.69 percent and leading refiner SK Innovation Co. declined 2.39 percent.

The South Korean currency was trading at 1,117.80 won against the U.S. dollar, up 2.20 won from the previous session's close.
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