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Seoul stocks open higher despite Wall Street losses

All News 09:23 February 19, 2020

SEOUL, Feb. 19 (Yonhap) -- South Korean stocks opened higher Wednesday, bucking overnight losses on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.3 points, or 0.47 percent, to 2,219.18 in the first 15 minutes of trading.

The U.S. stock market closed lower Tuesday (local time) after tech giant Apple Inc. said it would not meet quarterly financial guidance due to the novel coronavirus situation in China.

In Seoul, however, large caps had a solid start.

Market bellwether Samsung Electronics rose 0.67 percent, while No. 2 chipmaker SK hynix added 0.98 percent.

Leading automaker Hyundai Motor gained 0.38 percent, while auto parts maker Hyundai Mobis advanced 0.42 percent.

The country's No. 1 chemical firm LG Chem, however, plunged 1.67 percent, while top pharmaceutical firm Samsung BioLogics shed 0.58 percent.

The local currency was trading at 1,190.00 won against the U.S. dollar, down 0.50 won from the previous session's close.
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