Kospi opens higher on tech gains

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Kospi opens higher on tech gains

Published: 25 Nov. 2024, 09:46 Updated: 25 Nov. 2024, 12:25

A trading room at Hana Bank in central Seoul on Monday [YONHAP]

Shares opened higher Monday, led by gains from Samsung Electronics and other major tech shares.

The Kospi added 19.51 points, or 0.78 percent, to 2,520.75 in the first 15 minutes of trading.

The increase was led by institutional buying, which offset selling by foreigners and retail investors.

On Friday, the Kospi rose over 2,500 points for the first time in 11 sessions following a sharp drop the previous week amid concerns over expected policy changes by the new Donald Trump administration.

Samsung Electronics advanced 2.32 percent, and LG Energy Solution climbed 2.35 percent.

Posco Holdings added 1.15 percent, and LG Chem went up 2.01 percent.

Major bio shares opened higher, with Samsung Biologics rising 0.43 percent and Celltrion adding 0.35 percent.

Carmakers opened mixed as top automaker Hyundai Motor remained unchanged, while its affiliate Kia sank 1.33 percent.

KB Financial Group inched down 0.3 percent, and Naver lost 0.63 percent.

The local currency was trading at 1,398.8 won against the greenback as of 9:15 a.m., down 3 won from the previous session.

Yonhap