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Stocks open higher on gains in tech and banking

South Korean stocks opened higher Monday, led by gains in tech firms and banking firms.

The benchmark Korea Composite Stock Price Index rose 8.12 points, or 0.38 percent, to 2,173.16 in the first 15 minutes of trading.

Most large caps traded higher, with market kingpin Samsung Electronics adding 0.69 percent and SK hynix, a major chipmaker, rising 0.96 percent.


Shinhan Financial, the country's most profitable banking group, added 1.36 percent, and Posco, the No. 1 steelmaker, soared 1.85 percent.

In contrast, Hyundai Motor, the No. 1 automaker, moved down 0.35 percent and its smaller affiliate, Kia Motors, shed 0.57 percent.

The local currency was trading at 1,129.05 won against the US dollar, up 5.35 won from the previous session's close. (Yonhap)

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