Seoul stocks open higher on U.S. rallies
SEOUL, July 13 (Yonhap) -- South Korean stocks opened higher Tuesday, tracking overnight rallies on Wall Street that stemmed from optimism for strong corporate earnings in the second quarter.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.14 points, or 0.62 percent, to trade at 3,266.61 points in the first 15 minutes of trading.
The KOSPI got off to a bullish start despite concerns about the toughened social distancing measures in the greater Seoul area.
Strong earnings reports by U.S. financial giants fueled optimism for earning hikes globally and at home.
Overnight, the big-three U.S. stock indexes set new records, with the Dow Jones Industrial Average adding 0.36 percent. The tech-heavy Nasdaq Composite and the S&P 500 also advanced 0.21 and 0.35 percent, respectively, to new highs.
In Seoul, market bellwether Samsung Electronics gained 0.38 percent, and No. 2 chipmaker SK hynix increased 1.67 percent.
Internet portal operator Naver moved up 1.31 percent, while giant pharmaceutical firm Samsung Biologics retreated 0.57 percent.
Top automaker Hyundai Motor declined 0.22 percent, but leading chemical firm LG Chem grew 0.35 percent.
The local currency was trading at 1,146.25 won against the U.S. dollar, up 0.75 won from the previous session's close.
jwc@yna.co.kr
(END)
-
(Yonhap Interview) Samsung has substantial upside potential on sound fundamentals: chief analyst
-
BTS vows full support for Busan's World Expo bid
-
BTS' Jungkook drops collaborative single with U.S. singer-songwriter
-
(6th LD) S. Korea successfully launches homegrown space rocket in second attempt
-
VIVIZ to drop 2nd EP next month
-
(Yonhap Interview) Samsung has substantial upside potential on sound fundamentals: chief analyst
-
S. Korea prepares to launch homegrown space rocket after failed attempt last year
-
(LEAD) On Korean War anniversary, S. Korea vows stern response to N. Korean provocations
-
(6th LD) S. Korea successfully launches homegrown space rocket in second attempt
-
Samsung expected to announce mass production of 3nm chip next week
-
Son Ye-jin pregnant, expecting first baby with Hyun Bin
-
Huge search under way for missing family of 3 on southwestern island
-
Police chief offers to resign after Yoon slams reshuffle announcement flip-flopping
-
BTS member V visits Paris after K-pop boyband suspends group activities
-
(LEAD) S. Korea's new COVID-19 cases drop below 3,500 as omicron slows