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Seoul shares open higher despite losses in New York

By Korea Herald

Published : April 12, 2016 - 10:36

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South Korean share prices opened higher Tuesday despite some overnight losses in New York.

The benchmark KOSPI rose 5.71 points, or 0.29 percent, to 1,976.08 in the first 15 minutes of trading.

Traders monitor South Korea share prices at a local bank. (Yonhap) Traders monitor South Korea share prices at a local bank. (Yonhap)

Market blue chips such as Samsung Electronics, Hyundai Motor and POSCO were trading higher in the early morning session.

Overnight on Wall Street, the Dow Jones industrial average fell 20.55 points, or 0.12 percent, to 17,556.41 after U.S. corporate earnings season kicked off amid a poor profit outlook.

On Monday, Seoul stocks had ended lower as traders were wary about upcoming economic data from China. Later this week, the world’s No. 2 economy is scheduled to release its first quarter GDP figures and export data.

Investors are also watching for the outcome of the G20 finance ministers and central bank governors meeting that will open Thursday in Washington.

(khnews@heraldcorp.com)

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