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Seoul stocks open higher on U.S. gains

All News 09:28 July 10, 2018

SEOUL, July 10 (Yonhap) -- South Korean stocks opened higher Tuesday, taking a cue from overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.39 points, or 0.63 percent, to 2,300.19 in the first 15 minutes of trading.

Tech shares rallied, with market bellwether Samsung Electronics gaining 1.64 percent and chip giant SK hynix edging up 0.11 percent.

Steel shares rebounded, paring earlier losses, with top steelmaker POSCO jumping 2.46 percent. Hyundai Steel was up 0.93 percent.

Bio shares were mixed, with pharmaceutical firm Celltrion advancing 1.06 percent while Samsung Biologics, the healthcare unit of Samsung Group, dropped 1.52 percent.

Top automaker Hyundai Motor climbed 0.8 percent, and Naver, the country's largest portal operator, was also up 1.06 percent.

The local currency was trading at 1,110.00 won against the U.S. dollar, up 2.2 won from the previous session's close.


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