Back To Top
Finance

Seoul stocks open higher on bargain hunting

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Wednesday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Wednesday. (Yonhap)
South Korean stocks opened higher Wednesday as bargain hunters sought oversold stocks on expectations of future price hikes.

The benchmark Korea Composite Stock Price Index (Kospi) rose 4.09 points, or 0.13 percent, to 3,152.92 points in the first 15 minutes of trading.

Bio and bank gains led the Kospi's rise, while chemical and auto shares got off to a weak start.

Market kingpin Samsung Electronics added 0.26 percent, but No. 2 chipmaker SK hynix retreated 1.4 percent.

Internet portal operator Naver increased 1.61 percent, and pharmaceutical giant Samsung Biologics gained 2.3 percent.

Top automaker Hyundai Motor declined 0.24 percent, and leading chemical firm LG Chem dipped 3 percent.

The local currency was trading at 1,172.7 won to the US dollar, down 1.9 won from the previous session's close. (Yonhap)

MOST POPULAR