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Seoul stocks open higher on earnings hope

All News 09:27 July 22, 2021

SEOUL, July 22 (Yonhap) -- South Korean stocks opened higher Thursday as hopes for robust corporate earnings in the second quarter boosted investor sentiment.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.74 points, or 0.83 percent, to 3,242.65 points in the first 15 minutes of trading.

Stocks rebounded after the KOSPI retreated 2.14 percent in the past four sessions amid the fourth wave of the new coronavirus in the country.

Tech, financial and auto gains led the KOSPI's hike, while bio slumped.

Market kingpin Samsung Electronics advanced 0.89 percent, and No. 2 chipmaker SK hynix added 1.71 percent.

Internet portal operator Naver increased 0.7 percent, with its rival Kakao increasing 0.34 percent.

Pharmaceutical giant Samsung Biologics retreated 0.33 percent, but top automaker Hyundai Motor gained 0.88 percent. Leading chemical firm LG Chem climbed 1.11 percent.

The local currency was trading at 1,151.65 won to the U.S. dollar, up 2.35 won from the previous session's close.

jwc@yna.co.kr
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