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Seoul shares open higher on Wall Street gains

Screens display the benchmark Korea Composite Stock Price Index (Kospi) and the tech-heavy Kosdaq figures at a dealing room of a local bank in Seoul, Tuesday. (Yonhap)
Screens display the benchmark Korea Composite Stock Price Index (Kospi) and the tech-heavy Kosdaq figures at a dealing room of a local bank in Seoul, Tuesday. (Yonhap)
South Korean shares opened higher Tuesday, tracking overnight gains on Wall Street ahead of the US presidential election.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 25.83 points, or 1.12 percent, to 2,325.99 in the first 15 minutes of trading.

The index rose after a 1.46 percent rally the previous session, hoping that the stocks will advance after the US election on Wednesday (Washington time).

The upcoming Federal Open Market Committee (FOMC) meeting also boosted investor sentiment.

The Dow Jones Industrial Average rose 1.6 percent Monday (New York time). The tech-heavy Nasdaq composite gained 2.3 percent, and the S&P 500 advanced 1.23 percent.

Most large caps traded higher in Seoul.

Market bellwether Samsung Electronics added 1.05 percent, with No. 2 chipmaker SK hynix gaining 1.01 percent.

Pharmaceutical giant Samsung Biologics moved up 0.86 percent, and Celltrion jumped 3.27 percent.

Leading chemical firm LG Chem spiked 4.33 percent, while Hyundai Motor, the country's largest carmaker, slipped 0.29 percent.

Internet portal giant Naver slid 0.18 percent, but its rival Kakao climbed 0.45 percent.

The local currency was trading at 1,133.05 won against the US dollar, up 0.55 won from the previous session's close. (Yonhap)
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