Korean shares open higher Friday after U.S. gains

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

Stocks opened higher Friday, tracking gains on Wall Street, as investors await key U.S. inflation data this week for clues as to whether the Federal Reserve could scale down its aggressive monetary tightening.

The Kospi rose 4.72 points, or 0.20 percent, to 2,375.80 in the first 15 minutes of trading. The Kospi rebounded after a five-day slide.

A stronger-than-expected U.S. jobs report and service sector activity released earlier this week weighed on consumer sentiment amid concerns that the Fed may keep policy tightening to tame runaway inflation.

Now all eyes are on Friday's producer price index for November as it is one of the final pieces of data Fed officials will see before the Dec. 13-14 policy meeting, analysts said.

Most large-cap stocks advanced, with Samsung Electronics rising 1.2 percent, SK hynix climbing 1.5 percent, Hyundai Motor gaining 0.6 percent, and Amorepacific gaining 0.7 percent.

Among decliners, national flag carrier Korean Air fell 0.6 percent, the country's sole aircraft manufacturer Korea Aerospace Industries declined 0.3 percent, and leading steelmaker Posco Holdings shed 1.1 percent.

The local currency was trading at 1,316.25 won against the dollar as of 9:15 a.m., down 1.75 won from the previous day's close.

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