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Seoul shares open higher on Wall Street gains

By Yonhap

Published : Nov. 8, 2023 - 09:37

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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)

South Korean stocks opened higher Wednesday, tracking overnight gains on Wall Street over a slide in Treasury yields there.

The benchmark Korea Composite Stock Price Index rose 10.84 points, or 0.44 percent, to 2,454.80 in the first 15 minutes of trading.

US stocks closed higher overnight, with the Dow Jones Industrial Average edging up 0.2 percent and the Nasdaq Composite rising 0.9 percent amid an easing of Treasury yields there.

In Seoul, battery and bio-related shares opened stronger, with leading battery manufacturer LG Energy Solution rising 2.03 percent and SK bioscience adding 2.52 percent.

Telecom companies also gained ground, with industry leader SK Telecom rising 0.1 percent and No. 2 rival KT jumping 0.76 percent.

Leading steelmaker Posco Holdings rose 0.65 percent, and top automaker Hyundai Motor also added 0.11 percent.

The local currency was trading at 1303.85 won against the US dollar at 9:15 a.m., up 4.05 won from the previous session's close. (Yonhap)