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Kospi opens higher as auto and energy sectors rally

Published: 02 Dec. 2024, 09:38

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

Shares opened higher Monday, tracking gains on Wall Street, with the local stock market also getting a boost from advances in auto and energy shares.

Kospi rose 23.63 points, or 0.96 percent, to 2,479.54 in the first 15 minutes of trading.

On Friday, the Dow Jones Industrial Average rose 0.42 percent to 44,910.65 points and the tech-heavy Nasdaq composite climbed 0.83 percent to 19,218.17.

In Seoul, Hyundai Motor rose 0.23 percent, while LG Energy Solution climbed 2.88 percent.

SK Innovation gained 1.13 percent, and Posco Holdings was up 0.53 percent.

Technology stocks were mixed, with Samsung Electronics slipping 0.9 percent and SK hynix advancing 0.94 percent.

Among decliners, SK Telecom fell 0.65 percent, while E-Mart shed 1.24 percent and Lotte Shopping was down 0.7 percent.

The local currency was trading at 1,398.9 won against the greenback at 9:15 a.m., up 4.2 won from the previous session.

Yonhap