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Seoul stocks open higher on bargain hunting

All News 09:29 October 13, 2021

SEOUL, Oct. 13 (Yonhap) -- South Korean stocks opened higher Wednesday, as investors seek to buy oversold stocks after a sharp plunge the previous session.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 13.57 points, or 0.47 percent, to 2,929.95 in the first 15 minutes of trading.

Stocks lifted as most tech large caps bounced back.

Investor sentiment also improved on strong jobs data in September, which jumped by the largest in seven years.

Market bellwether Samsung Electronics Co. edged up 0.14 percent to 69,100 won, top automaker Hyundai Motor Co. added 1.71 percent to 208,000 won, and No. 2 chipmaker SK hynix Inc. increased 0.44 percent to 91,900 won.

Leading refiner SK Innovation Co. rose 0.58 percent to 258,000 won, and giant car battery firm LG Chem Ltd. traded flat at 796,000 won.

Among losers, steelmaker POSCO retreated 1.55 percent to 317,000 won, and LG Electronics Co. declined 2.82 percent to 120,500 won.

The local currency was trading at 1,197.05 won against the U.S. dollar, up 1.75 won from the previous session's close.


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