Kospi opens higher, tracking Wall Street gains as investors anticipate Trump victory
![A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Tuesday. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2024/07/16/7ab1063d-dfce-4562-86a8-bb31806be3b8.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Tuesday. [YONHAP]
Shares opened higher Tuesday, tracking overnight gains on Wall Street buoyed by expectations for Donald Trump's victory in the U.S. presidential election.
The Kospi rose 6.95 points, or 0.24 percent, to 2,867.87 in the first 15 minutes of trading.
Overnight, the Dow Jones Industrial Average jumped 0.53 percent to hit a fresh high, while the S&P 500 and Nasdaq composite rose 0.28 percent and 0.4 percent, respectively, following an assassination attempt on Trump.
The incident over the weekend increased expectations he will take over the White House, bolstering hopes for more corporate tax cuts and looser regulations.
In Seoul, Samsung Electronics increased 0.69 percent, while SK hynix lost 0.65 percent.
Auto and financial firms kicked off strong.
Hyundai Motor soared 2.05 percent and Kia advanced 1.75 percent.
Shinhan Financial jumped 2.32 percent, and Hana Financial climbed 1.13 percent.
But battery shares started off weak on negative prospects for the electric vehicle industry with increasing bets on Trump's victory in the U.S. presidential election.
LG Energy Solution dropped 1.53 percent, Samsung SDI lost 1.72 percent, and Posco Future M plunged 2.05 percent.
The local currency was trading at 1,386.20 won against the dollar at 9:15 a.m., up 3.4 won from the previous session's close.
BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]
with the Korea JoongAng Daily
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