The Korea Herald

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Seoul shares open higher on Wall Street gains

By Yonhap

Published : July 26, 2024 - 09:36

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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 shares opened higher Friday, tracking overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index added 17.01 points, or 0.63 percent, to 2,727.66 in the first 15 minutes of trading.

The KOSPI had dropped for two consecutive sessions following reports of poorer-than-expected second-quarter performances by major US tech firms.

The Dow Jones Industrial Average advanced 0.2 percent Thursday, ending a two-day losing streak on reports that the US economy grew at a faster rate than expected in the second quarter.

In Seoul, large caps traded mixed.

Market kingpin and tech giant Samsung Electronics gained 1 percent, while the world's No. 2 chipmaker SK hynix lost 0.89 percent.

Leading battery maker LG Energy Solution added 0.15 percent, while its local rival Samsung SDS surged 2.31 percent.

Top automaker Hyundai Motor tumbled 4.97 percent, with its smaller affiliate Kia Motors slipping 0.35 percent.

The local currency was trading at 1,385.30 won against the US dollar, up 0.10 won from the previous session's close. (Yonhap)