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Seoul shares open higher on Wall Street gains

June 11, 2024 - 09:32 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 opened slightly higher Tuesday, tracking overnight gains on Wall Street ahead of a US Fed meeting.

The benchmark Korea Composite Stock Price Index added 9.99 points, or 0.37 percent, to 2,711.16 in the first 15 minutes of trading.

The positive start follows overnight gains on Wall Street, with investors taking caution ahead of the US Federal Open Market Committee meeting slated for Tuesday and Wednesday.

The Dow Jones Industrial Average added 0.18 percent to close at 38,868.04, with the Nasdaq gaining 0.35 percent on Monday.

In Seoul, large caps traded mixed.

Market kingpin Samsung Electronics shed 0.13 percent, with the world's No. 2 chipmaker SK hynix retreating 0.96 percent.

Leading carmaker Hyundai Motor and its smaller affiliate Kia Motors advanced 0.93 percent and 0.25 percent, respectively, while top battery maker LG Energy Solution spiked 1.42 percent.

The local currency was trading at 1,376.15 won against the US dollar, down 0.15 won from the previous session's close. (Yonhap)