Kospi opens higher, following Wall Street’s overnight gains

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Kospi opens higher, following Wall Street’s overnight gains

Published: 18 Oct. 2024, 10:52

LEE JAE-LIM
lee.jaelim@joongang.co.kr

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

Shares opened slightly higher Friday, following the upward trend from Wall Street's overnight gains.

The benchmark Kospi added 4.09 points, or 0.16 percent, to 2,613.39 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average climbed 0.37 percent to close at 43,239.05, marking a new high for a second consecutive session on reports of better-than-anticipated consumer spending.

The U.S. Department of Commerce reported that the value of retail sales increased 0.4 percent from a month earlier in September, rising from 0.1 percent on-month growth the previous month and beating market expectations of a 0.3 percent increase.

In Seoul, large caps were mixed.

Samsung Electronics added 0.5 percent, while its chipmaking rival SK hynix tumbled 1.68 percent.

Battery maker LG Energy Solution lost 0.63 percent, but its local rival Samsung SDI advanced 0.3 percent.

Leading automaker Hyundai Motor stayed flat, while its smaller affiliate Kia Motors shed 0.11 percent.

The local currency was trading at 1,370.85 won against the dollar, down 2.25 won from the previous session.

BY LEE JAE-LIM, YONHAP [lee.jaelim@joongang.co.kr]