The Korea Herald


Seoul stocks open higher on tech, bio gains

By Yonhap

Published : Sept. 8, 2020 - 09:39

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(Yonhap) (Yonhap)

South Korean shares opened higher Tuesday, buoyed by tech and bio gains on the main bourse.

The Korea Composite Stock Price Index (KOSPI) rose 16.84 points, or 0.71 percent, to 2,401.06 in the first 15 minutes of trading.

The index rose above the 2,400-point mark as chipmakers continued to gain despite lingering valuation pressure on tech shares in major economies.

Large caps traded mixed in Seoul.

Market bellwether Samsung Electronics added 1.59 percent, with No. 2 chipmaker SK hynix edging up 0.13 percent.

Internet portal giant Naver shed 0.48 percent, while its rival Kakao added 0.51 percent.

Leading chemical maker LG Chem retreated 1.67 percent, and rechargeable battery maker Samsung SDI stayed flat.

Top pharmaceutical firm Samsung Biologics climbed 0.13 percent, but Celltrion dipped 1.64 percent.

Hyundai Motor, the country's largest automaker, advanced 0.29 percent, and top steelmaker POSCO rose 0.27 percent.

The local currency was trading at 1,187.35 won against the US dollar, up 0.95 won from the previous session's close. (Yonhap)