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Seoul shares open sharply higher on US stock gains

April 24, 2024 - 09:35 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 stronger Wednesday as investors snapped up blue chips across the board following overnight gains on Wall Street.

The benchmark Korea Composite Stock Price Index climbed up 46.43 points, or 1.77 percent, to 2,669.45 in the first 15 minutes of trading.

Overnight on Wall Street, the S&P 500 rose 1.2 percent and the tech-heavy Nasdaq jumped 1.59 percent, while the Dow Jones Industrial Average gained 0.69 percent, as tech heavyweights lifted the broader US stock market.

In Seoul, most blue chips advanced. Market heavyweight Samsung Electronics surged 3.31 percent and chip rival SK hynix jumped 4.27 percent.

Battery shares and energy shares also gained traction. Leading battery company LG Energy Solution rose 3.11 percent and top refiner SK Innovation climbed 3.41 percent.

The local currency was trading at 1,371.85 won against the greenback, up 6.45 won from the previous session's close. (Yonhap)