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Seoul stocks open higher on solid export data

All News 09:23 August 02, 2021

SEOUL, Aug. 2 (Yonhap) -- South Korean stocks opened higher Monday, helped by strong economic data that fueled optimism for a quick economic rebound from the pandemic.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.44 points, or 0.45 percent, to 3,216.76 points in the first 15 minutes of trading.

Stocks got off to a bullish start as South Korea's July exports jumped 29.6 percent on-year to a record high amid high demand for chips and autos.

Top cap Samsung Electronics added 1.02 percent, and No. 2 chipmaker SK hynix advanced 0.89 percent.

Internet portal operator Naver moved up 0.35 percent, with pharmaceutical giant Samsung Biologics increasing 1.69 percent.

Leading chemical firm LG Chem traded flat, and top automaker Hyundai Motor climbed 0.92 percent.

The local currency was trading at 1,150.6 won against the U.S. dollar, down 0.3 won from the previous session's close.


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