Kospi rises on U.S. market gains and lower oil prices

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Kospi rises on U.S. market gains and lower oil prices

Published: 10 Oct. 2024, 11:17

KIM JU-YEON
kim.juyeon2@joongang.co.kr

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Thursday. [YONHAP]

Seoul stocks opened higher Thursday thanks to overnight U.S. stocks gains led by a decline in international oil prices and a rise in local tech stocks.

The Kospi rose 0.46 percent, or 11.90 points, to 2,606.26 in the first 15 minutes of trading.

Overnight, U.S. stocks extended their gains thanks to a decline in global oil prices and gains in tech stocks. The Dow Jones Industrial Average rose 1.03 percent, the S&P 500 gained 0.71 percent and the tech-heavy Nasdaq composite added 0.6 percent.

Automotive and bio shares led the overall gains, with Hyundai Motor rising 2.64 percent and Samsung Biologics up 1.99 percent.

Internet portal and financial shares also advanced. Portal operator Naver jumped 2.59 percent, and Shinhan Financial Group added 1.99 percent.

Chipmaker SK hynix rose 3.82 percent but industry rival Samsung Electronics fell 1.33 percent. Battery company LG Energy Solution also shed 2.98 percent.

The local currency was trading at 1,348.85 won against the dollar, down 0.85 won from the previous session.

BY KIM JU-YEON, YONHAP [kim.juyeon2@joongang.co.kr]