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Seoul stocks open higher on hopes of US, China deal

Seoul stocks opened higher Monday as investor sentiment was boosted by signs that the United States and China may settle their protracted trade row in the near future.

The benchmark Korea Composite Stock Price Index increased 13.11 points, or 0.63 percent, to reach 2,101.00 in the first 15 minutes of trading.


The US stock market also gathered ground on Friday following reports that Washington and Beijing are getting closer to finding common ground in their trade talks.

Market kingpin Samsung Electronics moved up 0.98 percent, and No. 2 chipmaker SK hynix added 1.21 percent. LG Electronics climbed 1.17 percent.

LG Chem gained 0.83 percent, and top refiner SK Innovation rose 0.62 percent. Leading cosmetics maker AmorePacific climbed 0.64 percent.

Samsung BioLogics advanced 1.56 percent, and Celltrion shot up 1.78 percent. Hanmi Pharmaceutical moved up 1.04 percent.

The local currency was trading at 1,169.95 won against the US dollar, down 2.55 won from the previous session's close. (Yonhap)