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Seoul stocks open higher on U.S. gains

Stocks 09:29 July 09, 2020

SEOUL, July 9 (Yonhap) -- South Korean shares opened higher Thursday, apparently tracking overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.93 points, or 0.60 percent, to 2,171.81 in the first 15 minutes of trading.

Global recovery hopes boosted investor sentiment, leading to general gains on the U.S. stock indices.

The NASDAQ Composite jumped 1.44 percent Wednesday (New York time), setting another record at 10,492.50. The Dow Jones Industrial Average added 0.68 percent, with the S&P 500 advancing 0.78 percent.

Most large-cap shares in Seoul traded higher.

Tech giant Samsung Electronics rose 0.38, with No. 2 chipmaker SK hynix climbing 0.36 percent.

Internet giant Naver advanced 1.42 percent, and its rival Kakao jumped 3.05 percent.

Top pharmaceutical firm Samsung BioLogics fell 0.41 percent, while leading chemical maker LG Chem stayed flat following the arrest of 12 employees of its Indian unit, LG Polymers India, over a deadly gas leak that killed 12 people in May.

The local currency was trading at 1,191.55 won against the U.S. dollar, up 3.95 won from the previous session's close.

jwc@yna.co.kr
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