Seoul shares open higher despite U.S. budget woes
Published : 2013-10-01 09:33
Updated : 2013-10-01 09:33
South Korean stocks opened higher Tuesday, dispelling worries about a policy deadlock in the United States, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) added 6.63 points, or 0.33 percent, to 2,003.59 in the first 15 minutes of trading.
Large-cap stocks led the gain, with market bellwether Samsung Electronics rising 0.44 percent and Hyundai Motor shooting up 1 percent.
U.S. and European markets finished lower, as U.S. lawmakers failed to break the impasse over the fiscal budget plan, sending the government to a potential shutdown as of midnight, U.S. time.
The local currency was trading at 1,075.30 won against the U.S. dollar as of 9:15 a.m., down 0.6 won from Monday's close. (Yonhap News)