Korean stocks open higher as investors await quarterly earnings reports

Electronic display boards at Hana Bank in central Seoul show stock and foreign exchange markets Tuesday morning. [NEWS1]

Stocks opened higher Tuesday, as investors await quarterly earnings reports from major companies including Samsung Electronics this week, amid worries over global inflation and monetary tightening.

The benchmark Kospi rose 7.74 points, or 0.35 percent, to 2,243.90 in the first 15 minutes of trading.

Top companies are set to release their third-quarter earnings later this week. The results will likely offer investors a clue as to how they are doing in the face of headwinds such as global inflation and monetary tightening to rein in sharp price growth.

High-profile tech companies gained ground, with Samsung Electronics, whose earnings are due Thursday, up more than 1 percent.

SK hynix rose 1.1 percent, and LG Energy Solution climbed 1.8 percent.

In contrast, LG Chem fell more than 2 percent. SK Innovation was also down 0.3 percent.

The local currency was trading at 1,440.50 won against the dollar as of 9:15 a.m., down 0.8 won from Monday's close.

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