The Korea Herald

지나쌤

Seoul shares open higher on yen's rise

By 윤민식

Published : June 4, 2013 - 09:41

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South Korean stocks got off to a strong start Tuesday, as a rising Japanese currency lifted investor sentiment here, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 9.40 points, or 0.47 percent, to 1,998.97 in the first 15 minutes of trading.

Most shares gathered ground across the board, with large-cap exporters leading the gain. Market behemoth Samsung Electronics inched up 0.2 percent, and No. 1 carmaker Hyundai Motor advanced 0.7 percent.

The yen rebounded to 99 yen against the U.S. dollar in the New York market overnight, snapping its nearly one-month winning streak since May 9. It was quoted at 99.69 yen to the greenback as of 9:15 a.m., local time.

The local currency was trading at 1,120.35 won against the dollar at the same time, up 7.65 won from Monday's close. (Yonhap News)