Seoul shares open higher on bargain hunting
Seoul shares opened higher Monday, led by technology stocks, as investors went bargain hunting after Wall Street's record-setting advance. After opening 0.76 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) further gained 101.15 points, or 1.62 percent, at 6,359.92 as of 9:15 a.m. The KOSPI ended lower for a second straight session Friday, weighed down by foreign selling.…
On Monday, South Korean shares opened higher on Monday, driven by technology stocks as bargain hunters took advantage of the rally following Wall Street's record-setting advance. The Korea Composite Stock Price Index (KOSPI) rose 0.76 percent to close at 6,359.92 points, marking a 1.62 percent increase by 9:15 a.m. However, the KOSPI ended lower on Friday, dragged down by foreign selling.
The previous day's Wall Street gains, driven by positive U.S. job reports, contributed to the initial rally. The Dow Jones Industrial Average increased by 0.28 percent, while the S&P 500 gained 0.62 percent to reach a new record high. The tech-focused Nasdaq Composite Index also added 1.3 percent.
Technology stocks were the main movers in Seoul, with investors actively purchasing shares due to the bargain opportunity. Samsung Electronics, a market bellwether, rose 2.49 percent, while chipmaker SK hynix climbed 3.94 percent. As of 9:15 a.m., the Korean won traded at 1,412.1 won against the U.S. dollar, down 2.6 won from the previous session's close.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Seoul shares open higher on bargain hunting koreatimes.co.kr
- (URGENT) Seoul shares end tad higher, snap 2-day losing streak en.yna.co.kr
