Shares open higher as Kospi tracks Wall Street’s overnight tech rally

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Shares open higher as Kospi tracks Wall Street’s overnight tech rally

Published: 06 Nov. 2024, 11:20

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

Shares kicked off higher Wednesday tracking an overnight tech rally on Wall Street.

The benchmark Kospi rose 9.64 points, or 0.37 percent, to 2,586.52 in the first 15 minutes of trading.

Overnight, major U.S. indexes gained ground as a report on the services industries shows that the U.S. economy is still strong. The Dow Jones Industrial Average advanced 1.02 percent, Nasdaq composite increased 1.43 percent and the S&P 500 went up 1.23 percent.

Nvidia jumped 2.85 percent, Intel rose 3.55 percent, and Tesla surged 3.54 percent.

Investors' eyes are now on the results of the U.S. presidential election.

In Seoul, big-cap tech shares started in positive territory, echoing the gains in U.S. blue chip stocks.

Samsung Electronics climbed 0.35 percent, while SK hynix jumped 2.64 percent.

LG Energy Solution increased 0.95 percent, and Samsung SDI added 0.31 percent. POSCO Future M advanced 1.27 percent.

Korea Zinc also soared 3.26 percent.

On the other hand, Hyundai Motor dropped 1.63 percent, with Kia down 1.13 percent.

The local currency was trading at 1,380 won against the U.S. dollar, up 1.4 won from the previous session.

Yonhap