Kospi breaks recent losing streak to jump 1.17%

Finance

Published: 23 Jul. 2024, 09:56

Kospi breaks recent losing streak to jump 1.17%

A screen in Hana Bank's trading room in central Seoul on Tuesday [YONHAP]

Shares started higher Tuesday, led by gains in chipmakers and autos, tracking overnight gains on Wall Street.

Following a fourth straight session of decline, the benchmark Kospi added 32.30 points, or 1.17 percent, to reach 2,795.81 in the first 15 minutes of trading.

Overnight, major U.S. indexes gained ground as big-cap tech shares, including Nvidia, ASML, Microsoft and Alphabet, rebounded after their slump last week.

In Seoul, Samsung Electronics rose 1.69 percent and chipmaker SK hynix gained 1.71 percent.

Hyundai Motor jumped 2.35 percent and its affiliate Kia soared 2.93 percent. Its auto parts affiliate, Hyundai Mobis, also shot up 2.71 percent.

Samsung C&T, a trading firm, also advanced more than 2.4 percent.

Financial shares kicked off strong, with KB Financial up 0.81 percent and Hana Financial up 1.1 percent.

The local currency was trading at 1,387.00 won against the dollar at 9:15 a.m., down 1.20 won from the previous session's close.

BY CHO YONG-JUN, YONHAP [cho.yongjun1@joongang.co.kr]