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Seoul shares open higher on tech blue chips

May 16, 2017 - 09:46 By a2017001

South Korean stocks got off to a strong start Tuesday, buoyed by bullish tech large caps, analysts said.

The benchmark Korea Composite Stock Price Index climbed 13.38 points, or 0.58 percent, to trade at 2,304.03 in the first 15 minutes of trading. 

Market behemoth Samsung Electronics gained more than 1 percent, with chipmaker SK hynix advancing nearly 2 percent. Brokerage firms also gathered ground, led by an around 2 percent gain by Mirae Asset Daewoo Securities.

On the other hand, domestic-focused issues moved downward. State-run utility firm Korea Electric Power Corp. dipped 2.4 percent, and confectionery maker Orion fell almost 2 percent.

The local currency was trading at 1,116.80 won against the US dollar as of 9:15 a.m., up 6.8 won from Monday's close. (Yonhap)