Shares open higher on tech gains despite U.S. gov't shutdown woes

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Shares open higher on tech gains despite U.S. gov't shutdown woes

Published: 14 Nov. 2023, 09:58

KIM JU-YEON
[email protected]

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

Shares opened higher Tuesday on advances in tech shares amid growing concerns that the United States may face a government shutdown.

The Kospi added 25.87 points, or 1.08 percent, to 2,429.63 in the first 15 minutes of trading.

Investors have been closely monitoring the possibility that the United States may face a government shutdown should U.S. Congress fail to pass a spending plan by Friday.

Overnight, U.S. shares closed mixed, with the Dow Jones Industrial Average gaining 0.16 percent while the Nasdaq Composite slipped 0.22 percent.

In Seoul, Samsung Electronics moved up 0.71 percent, and SK hynix gained 0.23 percent. LG Energy Solution added 2.53 percent.

Chemical shares also gathered ground, with LG Chem rising 2.09 percent and SK Innovation increasing 2.29 percent.

Posco Holdings rose 4.09 percent.

The local currency was trading at 1,320.8 won against the U.S. dollar at 9:15 a.m., down 4.3 won from the previous session's close.

BY KIM JU-YEON, YONHAP [[email protected]]