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Seoul stocks open higher on U.S. gains

All Headlines 09:28 December 13, 2018

SEOUL, Dec. 13 (Yonhap) -- South Korean stocks opened higher Thursday tracking gains on Wall Street amid hopes for progress in trade talks between the United States and China.

The benchmark Korea Composite Stock Price Index (KOSPI) added 5.84 points, or 0.28 percent, to reach 2,088.41 in the first 15 minutes of trading.

Overnight, the U.S. stock market gathered ground, with the Dow Jones industrial average advancing 0.64 percent and the Nasdaq composite surging 0.95 percent, as investors hailed the latest positive developments regarding the trade frictions between Washington and Beijing.

In Seoul, tech and chemicals rose to buttress the index.

Market bellwether Samsung Electronics was up 0.37 percent, and leading chemical firm LG Chem added 0.43 percent. Top steelmaker POSCO advanced 1.00 percent

Big-cap bio shares were mixed. Pharmaceutical giant Celltrion lost 1.55 percent, while Samsung BioLogics went up 1.39 percent.

The local currency was trading at 1,125.80 won against the U.S. dollar, up 2.7 won from the previous session's close.

graceoh@yna.co.kr
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