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Seoul stocks open higher on Wall Street gains


South Korean shares opened higher Tuesday, tracking overnight gains on Wall Street led by estimate-beating housing data.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 24.64 points, or 1.18 percent, to 2,118.12 in the first 15 minutes of trading.

The Dow Jones Industrial Average spiked 2.32 percent to end at 25,595.80 on Monday (New York time), with a 1.2 percent gain on the tech-laden Nasdaq.

The gain was largely attributed to a record gain in the US pending home sales. A 14 percent jump in Boeing shares, and tech gains also led the US stock market rally.

In Seoul, most large caps traded higher.

Market bellwether Samsung Electronics spiked 2.1 percent, with the No. 2 chipmaker SK hynix surging 2.87 percent.

Top pharmaceutical firm Samsung BioLogics retreated 1.53 percent, while leading chemical maker LG Chem added 1.74 percent.

The local currency was trading at 1,197.35 won against the US dollar, up 1.25 won from the previous session's close. (Yonhap)