Stocks open higher on positive U.S. outlook

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Stocks open higher on positive U.S. outlook

Published: 23 Jan. 2024, 10:16

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 as U.S. shares reached an all-time high overnight on growing optimism over the U.S. economy.

The benchmark Korea Composite Stock Price Index rose 9.84 points, or 0.4 percent, to 2,474.19 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average closed 0.36 percent higher to set an all-time high level. The S&P 500 advanced 0.22 percent, also reaching a fresh high. The tech-heavy Nasdaq added 0.32 percent as well.

In Seoul, Samsung Electronics remained flat, while SK hynix lost 1.33 percent. LG Energy Solution shot up 1.08 percent.

Carmakers kicked off higher, with Hyundai Motor advancing 1.55 percent and Kia gaining 0.57 percent. Auto parts maker Hyundai Mobis added 1.01 percent.

IT giants opened bullish as well, with Naver rising 0.69 percent and Kakao jumping 0.71 percent.

The local currency was trading at 1,339 won against the dollar, up 0.1 won from the previous session's close.

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