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Seoul shares open higher on Wall Street gains

Nov. 15, 2023 - 09:28 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Wednesday. (Yonhap)

South Korean stocks opened higher Wednesday tracking overnight gains on Wall Street helped by lower-than-expected US inflation data.

The benchmark Korea Composite Stock Price Index added 35.21 points, or 1.45 percent, to 2,468.46 in the first 15 minutes of trading.

US stocks closed higher overnight following reports that the US consumer price index, a key inflation measure, rose at the slowest pace in October since 2021.

The Dow Jones Industrial Average added 1.43 percent, while the Nasdaq Composite surged 2.37 percent.

In Seoul, most large caps were up, with top cap Samsung Electronics gaining 1.31 percent and No. 2 chipmaker SK hynix surging 1.85 percent.

Top automaker Hyundai Motor soared 2.97 percent, while its smaller affiliate Kia spiked 2.56 percent.

The local currency was trading at 1,307.85 won against the US dollar, up 21.05 won from the previous session's close. (Yonhap)