South Korean stocks got off to a strong start Wednesday, tracking Wall Street gains, amid hopes for easing tariff tensions between the United States and China.
The benchmark Korea Composite Stock Price Index rose 27.38 points, or 1.1 percent, to 2,514.02 in the first 15 minutes of trading.
Overnight, US shares surged after US Treasury Secretary Scott Bessent said he expected the trade war with China to de-escalate and a deal would be reached, according to foreign media reports.
Investors also welcomed the news that US President Donald Trump said he is not planning to fire Federal Reserve Chair Jerome Powell.
The Dow Jones Industrial Average surged 2.66 percent and the tech-heavy Nasdaq composite jumped 2.71 percent.
South Korea was to hold tariff talks with the US in Washington on Thursday. The Trump administration put on hold the implementation of 25 percent reciprocal tariffs on South Korean imports for 90 days.
Market bellwether Samsung Electronics advanced 1.45 percent, and chip giant SK hynix spiked 2.93 percent.
Leading battery maker LG Energy Solution soared 3.46 percent, and No. 1 steelmaker POSCO Holdings went up 1.79 percent.
Top automaker Hyundai Motor advanced 1.35 percent, and its sister affiliate Kia grew 1.5 percent.
But leading biotech firm Samsung Biologics sank 2.14 percent.
The local currency was trading at 1,427.05 won against the US dollar at 9:15 a.m., down 6.45 won from the previous session. (Yonhap)
