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Seoul stocks open higher on Wall Street gains

All News 09:21 February 20, 2020

SEOUL, Feb. 20 (Yonhap) -- South Korean stocks opened higher Thursday, tracking overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.9 points, or 0.49 percent, to 2,221.24 in the first 15 minutes of trading.

The U.S. stock market closed higher Wednesday (local time) on hopes that China would take additional measures to help businesses during the novel coronavirus outbreak.

The Dow Jones Industrial Average rose 0.47 percent to close at 29,348.03, while the tech-heavy Nasdaq composite gained 0.87 percent to close at a record 9,817.18.

In Seoul, large caps had a solid start.

Market bellwether Samsung Electronics jumped 1.33 percent, and No. 2 chipmaker SK hynix surged 1.45 percent.

The country's No. 1 chemical firm LG Chem rose 1.24 percent, and top pharmaceutical firm Samsung BioLogics added 0.59 percent.

However, auto parts maker Hyundai Mobis fell 0.42 percent, while rechargeable battery maker Samsung SDI dropped 0.45 percent.

The local currency was trading at 1,192.50 won against the U.S. dollar, down 3.20 won from the previous session's close.
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