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Seoul stocks open higher, tracking Wall Street gains

Seoul stocks started higher Friday, tracking overnight gains on Wall Street, buoyed by rising hope for progress in the protracted US-China trade dispute.

The benchmark Korea Composite Stock Price Index (KOSPI) increased 8.33 points, or 0.42 percent, to 2,013.08 in the first 15 minutes of trading.


The US stock market ended sharply higher on Thursday (local time) on reports that the world's top two economies plan to hold high-level dialogue next month to deal with their yearlong trade frictions.

Market kingpin Samsung Electronics moved up 0.98 percent, and panelmaker LG Display rose 0.71 percent. No. 2 chipmaker SK hynix shed 0.36 percent.

Shipbuilders also started higher, with Samsung Heavy Industries rising 3.97 percent and Korea Shipbuilding & Offshore Engineering advancing 4.8 percent.

The local currency was trading at 1,197.85 won against the US dollar, up 2.35 won from the previous session's close. (Yonhap)