The Korea Herald

피터빈트

Seoul stocks open higher on vaccine hopes

By Yonhap

Published : July 21, 2020 - 09:29

    • Link copied

(Yonhap) (Yonhap)

South Korean shares opened higher on the back of positive progress in the development of the new coronavirus vaccines.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 20.94 points, or 0.95 percent, to 2,219.14 in the first 15 minutes of trading.

Investor sentiment improved, following reports on the progress shown in early data for the three potential COVID-19 vaccine candidates.

Most large caps traded higher in Seoul.

Market bellwether Samsung Electronics added 1.48 percent, and No. 2 chipmaker SK hynix jumped 2.68 percent.

Top pharmaceutical firm Samsung BioLogics advanced 0.95 percent, with leading chemical maker LG Chem surging 3.13 percent.

The local currency was trading at 1197.85 won against the US dollar, up 5.35 won from the previous session's close. (Yonhap)