Seoul shares open higher on Wall Street gains

A screen in Hana Bank's trading room in central Seoul shows stock and foreign exchange markets open on Tuesday. [NEWS1]

Stocks opened higher Tuesday on overnight Wall Street gains ahead of the release of the United States' key inflation data.

The benchmark Kospi rose 24.25 points, or 0.99 percent, to 2,476.95 in the first 15 minutes of trading.

U.S. stocks rallied after a New York Federal Reserve consumer survey showing Americans lowered their expectations for future income gains suggested that consumer price data due out Tuesday might come in better shape than previously feared.

The Dow Jones Industrial Average rose 1.11 percent, the tech-heavy Nasdaq Composite gained 1.48 percent, and the S&P 500 advanced 1.14 percent.

In Seoul, most top-cap shares opened higher across the board.

Samsung Electronics gained 1.43 percent, and chip maker SK hynix added 2.54 percent.

Battery maker LG Energy Solution rose 1.34 percent, and Samsung SDI climbed 1.66 percent.

Bio shares also gained ground, with Samsung Biologics inching up 0.12 percent and Celltrion adding 0.43 percent.

Automaker Hyundai Motor jumped 2.33 percent, and its affiliate Kia increased 0.09 percent.

The local currency was trading at 1,272 won against the dollar as of 9:15 a.m., down 5.3 won from the previous session's close.

Yonhap