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Seoul stocks open slightly higher amid earnings woes

Stocks 09:34 January 26, 2023

SEOUL, Jan. 26 (Yonhap) -- Seoul stocks opened slightly higher Thursday as investors brace for earnings reports from major companies.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 7.26 points, or 0.3 percent, to 2,435.83 in the first 15 minutes of trading.

The local stock market opened higher despite lackluster trading on Wall Street overnight.

The S&P 500 inched down 0.02 percent, while the Dow Jones Industrial Average edged up 0.03 percent. The tech-heavy Nasdaq closed 0.18 percent lower than the previous session.

In Seoul, market bellwether Samsung Electronics was up 0.32 percent, while smaller rival SK hynix was down 0.55 percent.

Top automaker Hyundai Motor added 1.75 percent, bio firm Samsung Biologics retreated 0.5 percent, and portal operator Naver declined 0.25 percent.

The local currency had been trading at 1,231.6 won against the U.S. dollar as of 9:15 a.m., up 0.1 won from Thursday's close.


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