Kospi gains 1.24% as market turns bullish

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Kospi gains 1.24% as market turns bullish

Published: 22 Apr. 2024, 10:06

LEE SOO-JUNG
lee.soojung1@joongang.co.kr

A screen in Hana Bank's trading room in central Seoul shows the stock market prices as it opens on Monday. [YONHAP]

Stocks opened higher Monday as investors scooped up financials, bios and other blue chips following last week's overall market decline amid eased tensions in the Middle East.

The Kospi gained 32.11 points, or 1.24 percent, to reach 2,623.97 in the first 15 minutes of trading.

Financial stocks led the overall bullish market, with KB Financial surging 5.49 percent and Shinhan Financial soaring 5.39 percent.

Bio shares also gained strong momentum, with Celltrion rising 1.91 percent and Samsung Biologics advancing 1.54 percent.

Auto and battery makers also enjoyed brisk gains in early trading. Hyundai Motor and Kia added 3.62 percent and 2.17 percent, respectively. LG Energy Solution rose 1.23 percent.

In contrast, tech shares lost ground after Nvidia shares plunged last week.

Samsung Electronics and SK hynix fell 0.26 percent and 0.92 percent, respectively.

The local currency was trading at 1,377.7 won against the greenback, down 4.5 won from the previous session's close.

BY LEE SOO-JUNG, YONHAP [lee.soojung1@joongang.co.kr]