Published : 2013-10-02 09:45
Updated : 2013-10-02 09:45
South Korean stocks got off to a strong start Wednesday, tracking U.S. peers overnight on confidence that the U.S. government shutdown won't last long, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) advanced 12.30 points, or 0.62 percent, to 2,011.17 in the first 15 minutes of trading.
Shares gathered ground across the board, with tech and financial blue-chips leading the climb.
SK hynix, South Korea's chip giant, jumped more than 3.6 percent, and Shinhan Financial Group, the largest lender by market cap, rose 1.13 percent.
Analysts expect the KOSPI to trade in positive terrain since the U.S. government shutdown has somehow offered the market fresh momentum. The U.S. government was shut down in a congressional impasse over settling the debt ceiling issue before the deadline.
The local currency was trading at 1,073.25 won against the U.S. dollar as of 9:15 a.m., up 0.25 won from Tuesday's close. (Yonhap News)