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Seoul stocks open higher on U.S. gains

All News 09:31 June 02, 2020

SEOUL, June 2 (Yonhap) -- South Korean stocks opened higher Tuesday, tracking overnight gains on Wall Street amid investors' expectations for economic reopening in the United States.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 10.03 points, or 0.49 percent, to 2,075.11 in the first 15 minutes of trading.

The gains were mainly attributed to the optimism over the U.S. post-lockdown economic reopening, bucking Sino-U.S. political tensions over Beijing's passing of a new national security law for Hong Kong.

The Dow Jones Industrial Average gained 91.91 points, or 0.36 percent, to close at 25,475.02 on Monday (New York time).

In Seoul, large caps traded mixed.

Market bellwether Samsung Electronics lost 0.20 percent, while No. 2 chipmaker SK hynix slipped 0.36 percent.

Top pharmaceutical firm Samsung BioLogics shed 0.48 percent, with leading chemical maker LG Chem advancing 1.39 percent.

Top automaker Hyundai Motor climbed 0.50 percent, and its smaller affiliate Kia Motors advanced 1.30 percent.

The local currency was trading at 1222.15 won against the U.S. dollar, up 2.85 won from the previous session's close.


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