Seoul shares open higher amid eased debt ceiling woes

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Seoul shares open higher amid eased debt ceiling woes

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

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

Seoul shares opened higher Friday, tracking Wall Street gains overnight, amid hopes that the U.S. government will be able to avert a debt default.
 
The benchmark Kospi rose 10.5 points, or 0.42 percent, to 2,525.9 in the first 15 minutes of trading.
 
Overnight, the Dow Jones Industrial Average rose 0.3 percent to 33,535.91, and the tech-heavy Nasdaq Composite climbed 1.5 percent to 12,688.84.
 
The U.S. government needs to lift the debt ceiling to fund its future spending plans and prevent defaulting on its debts. A failure by the U.S. government to raise the debt limit could trigger global financial chaos.
 
In Seoul, large-cap stocks were mixed across the board.
 
Samsung Electronics rose 2.4 percent, and chipmaker SK hynix climbed 2.5 percent.
 
Telecom company SK Telecom gained 0.2 percent, and the state-run Korea Electric Power Corporation was up 0.3 percent.
 
Low-cost carriers Jeju Air and T'way Air both added 0.3 percent.

 
Hyundai Motor fell 1 percent, the country's sole aircraft manufacturer, Korea Aerospace Industries, declined 0.2 percent, and battery maker LG Energy Solution shed 0.9 percent.
 
The local currency was trading at 1,333.25 won against the dollar as of 9:15 a.m., down 0.95 won from a session earlier.

Yonhap
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