Stocks open higher following flat U.S. CPI

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Stocks open higher following flat U.S. CPI

Published: 15 Nov. 2023, 10:09

KIM JU-YEON
[email protected]

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

Shares opened higher Wednesday, tracking overnight gains on Wall Street helped by lower-than-expected U.S. inflation data.

The Kospi added 35.21 points, or 1.45 percent, to 2,468.46 in the first 15 minutes of trading.

U.S. stocks closed higher overnight following reports that the U.S. Consumer Price Index, a key inflation measure, rose at the slowest pace in October since 2021.

The Dow Jones Industrial Average added 1.43 percent, while the Nasdaq Composite surged 2.37 percent.

In Seoul, most large caps were up, with Samsung Electronics gaining 1.31 percent and SK hynix surging 1.85 percent.

Hyundai Motor soared 2.97 percent, while Kia spiked 2.56 percent.

The local currency was trading at 1,307.85 won against the U.S. dollar, down 21.05 won from the previous session's close.

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