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Korean shares open higher on foreign buyingBy a2016032
Published : May 29, 2017 - 09:33
South Korean stocks opened higher Monday on increased foreign buying.
The benchmark Korea Composite Stock Price Index gained 8.11 points, or 0.34 percent, to 2,363.41 in the first 15 minutes of trading.
The broad index didn't track Friday's losses on Wall Street.
The Dow Jones industrial average dropped 0.01 percent.
Kim Ye-eun, an analyst at Cape Investment & Securities, said foreign investors bought large-cap stocks, giving a boost to the main index.
Large-cap stocks were mixed across the board. Market bellwether Samsung Electronics Co. gained 0.48 percent, and No. 2 chipmaker SK hynix Inc. was up 0.88 percent.
Meanwhile, top auto parts maker Hyundai Mobis Co. fell 0.71 percent, and top steelmaker Posco was down 0.18 percent.
The local currency was trading at 1,119.55 won against the US dollar, up 1.15 won from the previous session's close. (Yonhap)
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