Shares open higher Tuesday in line with Wall Street rallies

Finance

Published: 18 Oct. 2022, 10:20

Shares open higher Tuesday in line with Wall Street rallies

Electronic display boards at Hana Bank in central Seoul show stock and foreign exchange markets Tuesday morning. [YONHAP]

Shares opened higher Tuesday, tracking rallies on Wall Street ahead of corporate earnings announcements by major firms this week.

The benchmark Korspi rose 25.84 points, or 1.16 percent, to 2,245.55 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average rose 1.86 percent and the Nasdaq Composite jumped 3.43 percent as investors geared up for third-quarter corporate earnings of big-name firms such as Netflix and Tesla, this week.

In Seoul, most large-cap stocks opened higher.

SK hynix rose 0.1 percent, leading wireless services provider SK Telecom climbed 1.5 percent, top carmaker Hyundai Motor gained 1.5 percent, and state-run utility Korea Electric Power was up 0.9 percent.

Kakao, the operator of the country's dominant mobile messenger app KakaoTalk, traded 1.5 percent higher after plunging 5.9 percent on Monday following nationwide service disruptions over the weekend due to a fire at its data center on Saturday.

Among decliners, Samsung Electronics fell 0.2 percent.

The won was trading at 1,426.20 against the dollar, up 9.10 won from the previous session's close.

BY CHO JUNG-WOO, YONHAP [cho.jungwoo1@joongang.co.kr]