Stocks open higher after Wall Street gains

Finance

Stocks open higher after Wall Street gains

Published: 17 Oct. 2023, 09:59

PARK EUN-JEE
park.eunjee@joongang.co.kr

Screens in Hana Bank's trading room in central Seoul show stock and foreign exchange markets close on Monday.

Stocks got off to a strong start Tuesday after overnight gains on Wall Street.

The Kospi rose 19.23 points, or 0.79 percent, to 2,455.47 in the first 15 minutes of trading.

U.S. stocks closed higher as investors bet on big tech, with the Dow Jones Industrial Average advancing 0.93 percent and the Nasdaq Composite rising 1.2 percent.

In Seoul, tech and battery shares led the bullish opening.

Samsung Electronics added 0.74 percent, and LG Electronics rose 1.9 percent.

LG Energy Solution climbed 1.05 percent, and Posco Future M jumped 3.43 percent.

Pharmaceutical stocks also rose, with Samsung Biologics gaining 0.98 percent and SK bioscience rising 1.06 percent.

The local currency was trading at 1,349.75 won against the U.S. dollar at 9:15 a.m., up 3.95 won from the previous session's close.

BY PARK EUN-JEE, YONHAP [park.eunjee@joongang.co.kr]