Korean stocks advance despite overnight losses on Wall Street

Finance

Published: 15 Nov. 2022, 10:34 Updated: 16 Nov. 2022, 10:41

Korean stocks advance despite overnight losses on Wall Street

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

Stocks opened higher Tuesday, despite overnight losses on Wall Street, on the back of gains in big-cap tech shares.

The Kospi added 9.38 points, or 0.38 percent, to 2,484.03 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average fell 0.63 percent, and the tech-heavy Nasdaq Composite lost 1.12 percent as investors moved to take profits from last week's rally.

In Seoul, tech and bio shares led the overall market advance.

Samsung Electronics rose 0.48 percent, and SK hynix went up 0.33 percent. LG Chem also advanced 0.96 percent.

Samsung Biologics grew 0.33 percent, and Celltrion jumped 1.08 percent.

LG Energy Solutions inched down 0.17 percent.

Carmakers also lost ground. Hyundai Motor declined 0.28 percent, and its affiliate Kia fell 0.86 percent.

The won was trading at 1,324.10 won against the dollar as of 9:15 a.m., down 1.8 won from the previous session's close.

BY LIM JEONG-WON, YONHAP [lim.jeongwon@joongang.co.kr]