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Seoul stocks open higher on Wall Street gains

All News 09:31 August 07, 2020

SEOUL, Aug. 7 (Yonhap) -- South Korean shares opened higher Friday on high expectations about the U.S. stimulus package.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 9.5 points, or 0.41 percent, to 2,352.11 in the first 15 minutes of trading.

The index got off to a strong start, set to continue its winning streak since Monday.

Investor sentiment remained high, largely on expectations that the U.S. stimulus package is nearing an accord.

The Dow Jones Industrial Average added 0.68 percent to close at 27,201.52 on Thursday (New York time), with the tech-laden NASDAQ Composite advancing 1 percent to a new record.

Large caps traded mixed in Seoul.

Market bellwether Samsung Electronics slid 0.17 percent, with No. 2 chipmaker SK hynix retreating 0.37 percent.

Leading chemical maker LG Chem hiked 1.32 percent, and top automaker Hyundai Motor jumped 2.08 percent.

Top pharmaceutical firm Samsung Biologics lost 0.13 percent, while Celltrion gained 0.64 percent.

The local currency was trading at 1,184.55 won against the U.S. dollar, down 1.05 won from the previous session's close.


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