Stocks open higher as VIX reaches lowest close since 2020

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Stocks open higher as VIX reaches lowest close since 2020

Published: 27 Nov. 2023, 09:54

KIM JU-YEON
[email protected]

Screen in Hana Bank's trading room in central Seoul show stock and foreign exchange open on Monday. [NEWS1]

Shares opened higher Monday amid decreased volatility on Wall Street.

The Kospi rose 4.77 points, or 0.19 percent, to 2,501.40 in the first 15 minutes of trading.

On Friday, U.S. stocks closed mixed, with the Dow Jones Industrial Average up 0.33 percent and the tech-heavy Nasdaq down 0.11 percent.

The Volatility Index, Wall Street's fear gauge, hit its lowest since January 2020 at 12.46 as market participants expected the U.S. Federal Reserve is near the end of its hiking cycle on cooling inflation signals.

In Seoul, large-cap stocks were mixed.

Samsung Electronics rose 0.14 percent, and SK hynix climbed 0.86 percent.

LG Chem added 0.39 percent, and Naver jumped 0.97 percent.

Hyundai Motor was up 0.54 percent, but Kia lost 0.12 percent.

Battery shares started in negative terrain.

LG Energy Solution dropped 0.45 percent, and Posco Future M retreated 0.33 percent.

Posco Holdings also lost 0.63 percent.

The local currency was trading at 1,303.10 won against the dollar, down 3.30 won from the previous session's close.

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