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Seoul stocks open higher on US advances

Jan. 27, 2023 - 09:48 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Friday. (Yonhap)

Seoul stocks opened slightly higher Friday, tracking overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index rose 0.75 points, or 0.03 percent, to 2,469.4 in the first 15 minutes of trading.

The local stock market followed overnight advances on Wall Street, where stocks rose to the highest level in nearly eight weeks, as investors bet the US economy is performing better than expected.

The S&P 500 added 1.1 percent, the Dow Jones Industrial Average was up 0.61 percent, and the tech-heavy Nasdaq jumped 1.76 percent.

In Seoul, market top-caps traded mixed.

Market bellwether Samsung Electronics was up 0.94 percent, while smaller rival SK hynix fell 0.98 percent.

Major panel maker LG Display fell 1.18 percent, following its gloomy earnings results

Top auto maker Hyundai Motor added 0.69 percent, bio firm Samsung Biologics retreated 0.5 percent, and portal operator Naver was up 0.74 percent.

The local currency had been changing hands at 1,228.2 won against the greenback as of 9:15 a.m., up 2.5 won from Thursday's close. (Yonhap)