Shares open higher before U.S. tech stocks' Q3 earnings

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Shares open higher before U.S. tech stocks' Q3 earnings

Published: 21 Nov. 2023, 09:52

KIM JU-YEON
kim.juyeon2@joongang.co.kr

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

Shares opened higher Tuesday, tracking overnight gains on Wall Street, as investors await earnings results from AI chip leader Nvidia and other tech firms.

The Kospi rose 19.92 points, or 0.8 percent, to 2,511.12 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average rose 0.6 percent to 35,151.04, and the Nasdaq added 1.1 percent to 14,284.53.

Nvidia is set to release quarterly results on Tuesday on the back of strong demand for generative AI.

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

Samsung Electronics rose 0.6 percent, SK hynix climbed 1.3 percent, Hyundai Motor gained 0.3 percent, and LG Energy Solution was up 0.6 percent.

Among decliners, the country's sole aircraft manufacturer Korea Aerospace Industries fell 0.3 percent, and Amorepacific shed 0.4 percent.

The local currency was trading at 1,287.25 won against the U.S. dollar, down 4.4 won from the previous session's close.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]