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Seoul stocks open higher on Wall Street rallies

All News 09:26 August 04, 2021

SEOUL, Aug. 4 (Yonhap) -- South Korean stocks opened higher Wednesday, tracking overnight rallies on Wall Street over optimism for strong corporate earnings.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.51 points, or 0.2 percent, to trade at 3,243.65 points in the first 15 minutes of trading.

The KOSPI got off to a strong start on foreign buying, led by tech gains.

The S&P 500 gained 0.82 percent to close at a record high, with the Dow Jones Industrial Average and the tech-heavy Nasdaq composite advancing 0.8 percent and 0.55 percent, respectively.

In Seoul, market bellwether Samsung Electronics gained 0.86 percent, and No. 2 chipmaker SK hynix increased 1.25 percent.

Internet portal operator Naver moved up 0.47 percent, while giant pharmaceutical firm Samsung Biologics edged down 0.22 percent.

Top automaker Hyundai Motor fell 0.22 percent, and leading chemical firm LG Chem declined 2.34 percent.

The local currency was trading at 1,148.3 won against the U.S. dollar, unchanged from the previous session's close.


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