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Kospi opens higher as investors watch Yoon impeachment vote

Published: 06 Dec. 2024, 09:56

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

Shares opened higher Friday on auto and energy gains, with investors eyeing the planned parliamentary vote for President Yoon Suk Yeol's impeachment over his botched declaration of martial law earlier this week.

The Kospi rose 13.68 points, or 0.56 percent, to 2,455.53 in the first 15 minutes of trading.

On Tuesday night, Yoon abruptly declared martial law, accusing the main opposition party of paralyzing the government with impeachment motions and a downsized budget bill.

But he lifted the martial law attempt on the following day after the National Assembly voted against the declaration.

Opposition parties submitted an impeachment motion against him on the same day. The impeachment vote is set for Saturday.

In Seoul, auto and energy stocks led gains.

Hyundai Motor rose 0.49 percent, Kia climbed 2.02 percent and LG Energy Solution gained 3.01 percent.

Samsung Electronics advanced 0.74 percent, but SK hynix declined 1.97 percent.

Among other decliners, KT dropped 2.52 percent and Amorepacific shed 0.48 percent.

The local currency was trading at 1,415.85 won against the greenback at 9:15 a.m., up 0.75 won from the previous session.

Yonhap