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Seoul shares start higher despite US losses

March 26, 2024 - 09:27 By Yonhap
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Tuesday. (Yonhap)

South Korean stocks got off to a strong start Tuesday despite overnight losses on Wall Street.

The benchmark Korea Composite Stock Price Index added 32.49 points, or 1.19 percent, to 2,770.06 in the first 15 minutes of trading.

The US stocks lost ground Monday as investors took a breather ahead of key inflation data. The Dow Jones Industrial Average fell 0.4 percent, and the tech-rich Nasdaq Composite Index dropped 0.3 percent.

In Seoul, market heavyweights led the bullish beginning.

Top-cap Samsung Electronics rose 1.92 percent, and No. 2 SK hynix jumped 2.13 percent.

Leading battery maker LG Energy Solution advanced 0.72 percent, and top carmaker Hyundai Motor went up 1.25 percent.

Naver, the country's No. 1 online portal operator, increased 0.59 percent, and leading mobile carrier SK Telecom gained 1.31 percent.

The local currency was trading at 1,338.15 won against the US dollar, up 3.95 won from the previous session's close. (Yonhap)