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Seoul stocks start higher after presidential election

May 10, 2017 - 09:41 By a2016032

South Korean shares opened higher Wednesday as political uncertainties eased with liberal former human rights lawyer Moon Jae-in beginning his five-year term as president.

The benchmark Korea Composite Stock Price Index gained 16.71 points, or 0.73 percent, to set a new intra-day high of 2,309.47 in the first 15 minutes of trading.

Most large caps traded mixed with market kingpin Samsung Electronics falling 1.36 percent.

Top automaker Hyundai Motor remained flat, and top steelmaker Posco rose 1.86 percent.

The local currency was trading at 1,136.55 won against the US dollar, down 5.15 won from the previous session's close. (Yonhap)