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Seoul stocks open higher on US gains

South Korean stocks opened higher Monday tracking gains on Wall Street, with investors waiting for second-quarter earnings results from big companies due out later this month.

The benchmark Korea Composite Stock Price Index added 11.89 points, or 0.49 percent, to a high of 2,426.52 in the first 15 minutes of trading.

On Friday, the Dow Jones Industrial Average ended up 0.39 percent at 21,637.74 and the tech-heavy NASDAQ was up 0.61 percent to 6,312.47.


Companies such as Samsung Electronics Co. and Hyundai Motor Co. are expected to release their second-quarter earnings results the last week of July.

Market bellwether Samsung Electronics led gains, rising 0.83 percent. No. 2 chipmaker SK hynix Inc. was up 0.28 percent.

Among decliners were carmakers and refiners. Top carmaker Hyundai Motor Co. fell 0.97 percent and leading refiner SK Innovation Co. was down 0.30 percent.

The local currency was trading at 1,129.15 won against the US dollar, up 4.15 won from the previous session's close. (Yonhap)

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Korea Herald daum