Finance
Seoul stocks open steeply higher ahead of US inflation data release
Published : Sep 14, 2021 - 09:30
Updated : Sep 14, 2021 - 09:30
(Yonhap)
South Korean stocks opened steeply higher Tuesday as investors await the release of US consumer price data, seeking more clues about the Federal Reserve's timeline for tapering its stimulus.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 15.92 points, or 0.51 percent, to trade at 3,143.78 points in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average advanced 0.76 percent, largely on expectations that the Fed would not hurry to roll back its accommodative policies in the Federal Open Market Committee meeting next week.

In Seoul, market bellwether Samsung Electronics added 0.79 percent, and No. 2 chipmaker SK hynix gained 0.47 percent.

Internet portal operator Naver dipped 2.7 percent, and its rival Kakao slumped 2.81 percent. Giant pharmaceutical firm Samsung Biologics increased 0.55 percent.

Top automaker Hyundai Motor climbed 1.95 percent, but leading chemical firm LG Chem declined 1.07 percent.

The local currency was trading at 1,173.75 won against the US dollar, up 2.25 percent from the previous session's close. (Yonhap)
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