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Seoul stocks open sharply higher on gains in techs, chemicals

All News 09:30 August 11, 2020

SEOUL, Aug. 11 (Yonhap) -- South Korean shares opened sharply higher Tuesday, led by an advance by major tech firms and chemicals makers.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.80 points, or 0.87 percent, to 2,355.11 in the first 15 minutes of trading, heading toward a rise for the seventh consecutive trading session.

Market heavyweights traded mixed.

Market bellwether Samsung Electronics gained 1.04 percent, but No. 2 chipmaker SK hynix retreated 0.25 percent.

Top pharmaceutical firm Samsung Biologics added 3.11 percent, and Celltrion edged up 0.32 percent.

Leading chemical maker LG Chem spiked 4.58 percent, with EV battery maker Samsung SDI advancing 0.84 percent. SK Innovation jumped 2.15 percent.

Hyundai Motors, the country's top automaker, shed 1.47 percent, and its smaller affiliate Kia Motors lost 1.51 percent.

Internet giant Naver slid 0.48 percent, with its rival Kakao dropping 0.56 percent.

The local currency was trading at 1,186.25 won against the U.S. dollar, down 0.65 won from the previous session's close.


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