Seoul shares open higher on US rally
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 kicked off higher Wednesday tracking an overnight tech rally on Wall Street.
The benchmark Korea Composite Stock Price Index rose 9.64 points, or 0.37 percent, to 2,586.52 in the first 15 minutes of trading.
Overnight, major US indexes gained ground as a report on the services industries shows that the US economy is still strong. The Dow Jones Industrial Average advanced 1.02 percent, the tech-heavy Nasdaq Composite increased 1.43 percent, and the S&P 500 went up 1.23 percent.
Artificial intelligence chip giant Nvidia jumped 2.85 percent, Intel rose 3.55 percent, and EV maker Tesla surged 3.54 percent.
Investors' eyes are now on the results of the US presidential election.
In Seoul, big-cap tech shares started in positive territory, echoing the gains in US blue chip stocks.
Tech behemoth Samsung Electronics climbed 0.35 percent, while its chipmaking rival SK hynix jumped 2.64 percent.
Leading battery maker LG Energy Solution increased 0.95 percent, and its smaller rival Samsung SDI added 0.31 percent. Posco Future M advanced 1.27 percent.
Korea Zinc, the world's largest smelter in the middle of a management control battle, also soared 3.26 percent.
On the other hand, top automaker Hyundai Motor dropped 1.63 percent, with its sister Kia down 1.13 percent.
The local currency was trading at 1,380 won against the US dollar, down 1.4 won from the previous session. (Yonhap)
