Seoul shares open higher on blue-chip gains
Published : 2013-10-10 09:31
Updated : 2013-10-10 09:31
South Korean stocks opened higher Thursday on the back of gains in blue-chip shares, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) moved up 6.84 points, or 0.34 percent, to 2009.60 in the first 15 minutes of trading.
Tech shares led the market gain, with leading chipmaker SK hynix adding 3.05 percent and local handset maker LG Electronics moving up 1.93 percent. Flat panel maker LG Display gained 1.65 percent.
Carmakers also opened bullish, with No. 1 Hyundai Motor increasing 2.37 percent and its smaller affiliate Kia Motors rising 1.88 percent. Auto parts maker Hyundai Mobis climbed 1.25 percent.
The local currency was trading at 1.075.25 won against the U.S. dollar as of 9:15 a.m., down 1.55 won from Tuesday's close.
The South Korean financial markets were closed on Wednesday for Hangeul Day, which commemorates the invention and proclamation of the Korean alphabet in 1446. (Yonhap News)