Stocks open higher on U.S. debt ceiling deal's progress

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Stocks open higher on U.S. debt ceiling deal's progress

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets close on Thursday. [YONHAP]

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets close on Thursday. [YONHAP]

Stocks opened higher Friday, as investors welcomed the progress in the United States' debt ceiling deal and raise hopes for the Fed to keep rates unchanged in the upcoming June FOMC meeting.
 
The Kospi added 18.7 points, or 0.73 percent, to 2,587.87 in the first 15 minutes of trading.
 
Overnight, U.S. stocks closed higher as the House of Representatives passed a debt ceiling bill to avoid a federal default.
 
The Dow Jones Industrial Average rose 0.47 percent, and the tech-heavy Nasdaq Composite jumped 1.28 percent.
 
In Seoul, large-cap tech and semiconductor stocks led the upturn of the index.
 
Samsung Electronics jumped 1.27 percent, and chipmaker SK hynix surged 1.54 percent.
 
Battery maker LG Energy Solution grew 0.68 percent, and LG Chem climbed 1.16 percent. Samsung SDI added 0.42 percent.
 
Carmakers opened higher, Hyundai Motor rising 0.66 percent and Kia increasing 0.59 percent.
 
Bio shares opened mixed. Samsung Biologics inched up 0.25 percent, while Celltrion lost 0.63 percent.
 
The local currency was trading at 1,311.5 won against the dollar at around 9:15 a.m., down 10.1 won from the previous session's close.

BY SOHN DONG-JOO, YONHAP [[email protected]]
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