Kospi opens higher amid investor confidence
Published: 27 May. 2024, 10:01
Updated: 27 May. 2024, 10:24
![A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,687.60 points on Friday, down 1.26 percent, or 34.21 points, from the previous trading session. [NEWS1]](https://koreajoongangdaily.joins.com/data/photo/2024/05/27/757040c6-0936-459d-8d2b-06d60dd92862.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi closing at 2,687.60 points on Friday, down 1.26 percent, or 34.21 points, from the previous trading session. [NEWS1]
Stocks opened higher Monday as investors hunted for bargains after four consecutive sessions of losses through Friday amid dashed hopes for an early rate cut by the Federal Reserve.
The Kospi added 11.09 points, or 0.41 percent, to 2,698.69 in the first 15 minutes of trading.
Chemical shares opened higher, with Amorepacific rising 0.49 percent and SK Innovation adding 0.88 percent.
Financial firms gained ground as well, with KB Financial rising 1.04 percent and Shinhan Financial moving up 0.63 percent.
Samsung Electronics, however, edged down 0.92 percent, while SK hynix climbed 2.22 percent.
The local currency was trading at 1,366.7 won against the dollar, down 2.8 won from the previous session's close.
BY CHOI HAE-JIN, YONHAP [[email protected]]
with the Korea JoongAng Daily
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