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Seoul shares open higher on tech gains

All News 09:24 September 06, 2022

SEOUL, Sept. 6 (Yonhap) -- Seoul stocks opened higher Tuesday on tech gains following a three-day losing streak amid concerns over the Fed's aggressive monetary tightening and a global economic downturn.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.47 percent, or 11.27 points, to 2,414.95 as of 9:15 a.m.

Individuals bought a net 33.8 billion won (US$25 million) worth of stocks, offsetting institutions and foreigners' combined selling valued at 32 billion won.

Tech and auto stocks were lead gainers, with market bellwether Samsung Electronics Co. rising 0.9 percent, No. 2 chipmaker SK hynix Inc. climbing 1.1 percent, No. 2 carmaker Kia Corp. gaining 0.4 percent and leading auto parts maker Hyundai Mobis Co. adding 0.2 percent.

Among decliners, leading budget carrier Jeju Air Co. fell 3.8 percent, leading chemical firm LG Chem Ltd. declined 0.3 percent, and No. 1 wireless services provider SK Telecom Co. shed 1.3 percent.

The local currency was trading at 1,367.10 won against the U.S. dollar, up 4.30 won from the previous session's close.


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