Stocks open higher following overnight gains on Wall Street

Finance

Stocks open higher following overnight gains on Wall Street

Published: 09 Jun. 2023, 10:06 Updated: 09 Jun. 2023, 10:08

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

Stocks opened higher Friday following Wall Street's gains overnight, as investors await two U.S. inflation-related events next week.

The benchmark Kospi rose 10.85 points, or 0.42 percent, to 2,621.70 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average rose 0.5 percent to 33,833.61, and the Nasdaq Composite climbed 1 percent to 13,238.52.

In Seoul, tech, auto and airline stocks led gains.

Samsung Electronics rose 0.3 percent, and Hyundai Motor climbed 0.8 percent.

National flag carrier Korean Air gained 0.7 percent, and car battery maker LG Energy Solution grew 1.4 percent.

Among decliners, the country's sole aircraft manufacturer Korea Aerospace Industries fell 1.1 percent, and Hanwha Ocean, formerly Daewoo Shipbuilding & Marine Engineering, declined 1.9 percent. Shipping firm HMM shed 0.1 percent.

The local currency was trading at 1,295.35 won against the dollar as of 9:15 a.m., down 8.35 won from the previous session's close.

BY SOHN DONG-JOO, YONHAP [sohn.dongjoo@joongang.co.kr]