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Seoul shares open higher on US gains

By Yonhap

Published : Dec. 22, 2023 - 09:35

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

South Korean stocks got off to a bullish start Friday in line with overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index climbed 8.68 points, or 0.33 percent, to 2,608.70 in the first 15 minutes of trading.

US stock indexes gained ground overnight, with the Dow Jones Industrial Average rising 0.87 percent and the tech-heavy Nasdaq Composite adding 1.26 percent amid continued hopes that the Federal Reserve would ease its monetary policy.

In Seoul, blue chips traded higher across the board.

Market bellwether Samsung Electronics rose 0.80 percent, and No. 2 chipmaker SK hynix jumped 1.28 percent.

Leading battery maker LG Energy Solution inched up 0.12 percent, and steel giant Posco Holdings rose 0.72 percent.

Top automaker Hyundai Motor also climbed 0.20 percent, and its smaller affiliate Kia added 0.72 percent.

The local currency was trading at 1,299.40 won against the US dollar, up 5.70 won from the previous session's close. (Yonhap)