Seoul shares open higher on tech gains
An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap)
South Korean stocks opened higher Monday, led by gains from top-cap Samsung Electronics and other major tech shares.
The benchmark Kospi added 19.51 points, or 0.78 percent, to 2,520.75 in the first 15 minutes of trading.
The increase was driven by institutional buying, which offset selling by foreigners and retail investors.
On Friday, the Kospi rose above 2,500 points for the first time in 11 sessions following a sharp drop the previous week amid concerns over expected policy changes by the new Donald Trump administration.
Market bellwether Samsung Electronics advanced 2.32 percent, and leading battery maker LG Energy Solution climbed 2.35 percent.
Top steelmaker Posco Holdings added 1.15 percent, and LG Chem rose 2.01 percent.
Major bio shares opened higher, with Samsung Biologics rising 0.43 percent and Celltrion adding 0.35 percent.
Carmakers opened mixed, as top automaker Hyundai Motor remained unchanged, while its sister affiliate Kia sank 1.33 percent.
KB Financial Group inched down 0.3 percent, and internet platform giant Naver lost 0.63 percent.
The local currency was trading at 1,398.80 won against the greenback as of 9:15 a.m., up 3 won from the previous session. (Yonhap)
