Seoul stocks open higher after 7-day losing streak

On Friday, Seoul's stock market began with a surge, marking an end to a seven-day decline. The Korea Composite Stock Price Index (KOSPI) climbed by 85.62 points, or 1.54 percent, reaching 5,639.84 at 9:15 a.m. In the preceding days, primary AI and semiconductor shares had underperformed. Meanwhile, Wall Street's major indices experienced gains, with the S&P 500 rising by 0.33 percent and the Nasdaq increasing by 0.08 percent.

In the United States, September's producer price data showed the most significant increase in four years, indicating a potential rate hike by the Federal Reserve to combat inflation. Numerous prominent South Korean companies experienced positive movements. Samsung Electronics and SK hynix surged by 1.55 percent and 0.48 percent, respectively.

Hyundai Motor, an industry leader, advanced by 2.54 percent, while KB Financial, a financial firm, jumped by 4.72 percent. Defense giant Hanwha Aerospace also saw an increase, moving up 4.37 percent. At 9:15 a.m., the Korean won was valued at 1,340.6 won against the U.S. dollar, reflecting a 1.4-won increase from the close of the preceding trading session.