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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, Tuesday. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Tuesday. (Yonhap)
South Korean stocks opened higher Tuesday, as investors sought to buy oversold stocks after the key index's recent plunge.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.16 points, or 0.51 percent, to 2,978.16 in the first 15 minutes of trading.

Stocks started strong after the stock index dipped nearly 2 percent the previous session over the global spreading of the omicron variant of the new coronavirus.

Most large caps rebounded in Seoul.

Top cap Samsung Electronics added 0.91 percent, No. 2 chipmaker SK hynix increased 2.9 percent, and pharmaceutical giant Samsung Biologics climbed 0.96 percent.

Leading automaker Hyundai Motor moved up 0.73 percent, and internet portal operator Naver advanced 0.94 percent.

Among losers, electric car battery maker LG Chem lost 1.37 percent, with Samsung SDI declining 1.38 percent.

The local currency was trading at 1,189.8 won against the US dollar, down 1 won from the previous session's close. (Yonhap)

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