Stocks open higher Friday before U.S. July jobs report

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Stocks open higher Friday before U.S. July jobs report

Published: 04 Aug. 2023, 09:50

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 eye U.S. July job data for hints on the Federal Reserve's monetary policy.

The benchmark Kospi rose 6.46 points, or 0.25 percent, to 2,611.85 in the first 15 minutes of trading.

All three major U.S. indexes finished lower Thursday as investors digested higher Treasury yields and the latest corporate earnings ahead of U.S. job data for July set to be released later in the day.

In Seoul, big-cap shares traded mixed.

Samsung Electronics inched up 0.15 percent, but SK hynix dipped 0.25 percent.

LG Energy Solution was flat, while Samsung SDI went up 0.63 percent, and Posco Future M added 0.1 percent.

Hyundai Motor and Kia advanced 0.52 percent and 0.37 percent, respectively.

Naver jumped 2.69 percent on a strong earnings report, and Kakao rose 0.94 percent.

The local currency was trading at 1,299.60 won against the dollar at 9:15 a.m., up 0.5 won from Thursday's close.

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