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Seoul stocks open higher on soaring U.S. stock

All News 09:31 October 13, 2020

SEOUL, Oct. 13 (Yonhap) -- South Korean stocks opened higher Tuesday on overnight Wall Street rallies, led by strong advances by tech and e-commerce heavyweights.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 5.93 points, or 0.25 percent, to 2,409.66 in the first 15 minutes of trading.

The KOSPI opened with a mild gain after an eight-day winning streak.

Investor sentiment remained high, following gains by U.S. tech and e-commerce heavyweights, ahead of Apple's upcoming presentation of a new smartphone and Amazon's yearly bargain sale.

The Nasdaq Composite jumped 2.56 percent to close at 11,876.27 on Monday (New York time). The Dow Jones Industrial Average added 0.88 percent, and the S&P 500 rose 1.64 percent.

In Seoul, most large caps traded higher.

Market kingpin Samsung Electronics rose 1.49 percent, with No. 2 chipmaker SK hynix adding 0.82 percent.

Internet portal giant Naver gained 0.51 percent, and its rival Kakao advanced 0.54 percent.

Leading chemical maker LG Chem lost 1.64 percent, but rechargeable battery maker Samsung SDI climbed 0.45 percent.

Top pharmaceutical firm Samsung Biologics gained 0.42, but Celltrion traded flat.

The local currency was trading at 1,150 won to the U.S. dollar, down 3.2 won from the previous session's close.

jwc@yna.co.kr
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