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Seoul stocks open higher on Wall Street rebound

(Yonhap)
(Yonhap)
South Korean stocks opened higher Friday after the US index rebounded from a three-day plunge that stemmed from concerns about early post-pandemic inflation.

The benchmark Korea Composite Stock Price Index (Kospi) rose 21 points, or 0.67 percent, to reach 3,143.11 points in the first 15 minutes of trading.

Overnight, the tech-heavy Nasdaq Composite advanced 0.72 percent, with the Dow Industrial Average and the S&P 500 up 1.29 percent and 1.22 percent, respectively.

In Seoul, market bellwether Samsung Electronics added 1.53 percent, and No. 2 chipmaker SK hynix advanced 1.28 percent.

Internet portal operator Naver increased 1.19 percent, and giant pharmaceutical firm Samsung Biologics climbed 0.69 percent.

Top automaker Hyundai Motor moved up 1.74 percent, and leading chemical firm LG Chem edged up 0.24 percent.

The local currency was trading at 1,129.35 won against the US dollar, down 0.05 won from the previous session's close. (Yonhap)

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