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피터빈트

Seoul shares open higher on US gains

By Yonhap

Published : July 4, 2024 - 09:37

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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Newsis) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Thursday. (Newsis)

South Korean stocks got off to a strong start Thursday, tracking overnight gains on Wall Street led by hopes for a possible rate hike.

The benchmark Korea Composite Stock Price Index gained 23.37 points, or 0.84 percent, to 2,817.38 in the first 15 minutes of trading.

In the United States, the S&P 500 index and tech-heavy Nasdaq composite rose to hit record highs backed by Tesla and Nvidia amid softening labor data raising hopes for a rate cut by the Federal Reserve.

In Seoul, market bellwether Samsung Electronics jumped 3.55 percent, and top automaker Hyundai Motor rose 0.91 percent.

Leading banking group KB Financial Group advanced 1.07 percent, and defense company Hanwha Aerospace added 1.72 percent.

The local currency was trading at 1,384.35 won against the US dollar, up 6.25 won from the previous session's close. (Yonhap)

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