[THE INVESTOR] South Korean stocks opened higher on July 11 following an upbeat mood over corporate second-quarter earnings.

The benchmark Korea Composite Stock Price Index rose 18.42 points, or 0.94 percent, to 1,981.52 in the first 15 minutes of trading.

The stock market is apparently boosted by a projected earnings surprise by Samsung Electronics. It posted 8.1 trillion won (US$7 billion) in the second quarter in the second quarter, according to preliminary estimates.

LG Electronics, the nation’s No. 2 tech firm, also said its second-quarter earnings reached a two-year high to more than 500 billion won.

But the scope of KOSPI’s advance remains uncertain, as the Brexit concerns continue.

The Bank of Korea is scheduled to hold a monthly rate-set meeting on July 14.

China is also due to release its data on June trade and second-quarter gross domestic product this week.

The local currency was trading at 1,150.30 won against the US dollar, up 11.50 won from the previous session’s close.

(theinvestor@heraldcorp.com)