Home > Business > Finance

Kospi rises after Yoon's impeachment eases market volatility

Published: 16 Dec. 2024, 09:58 Updated: 16 Dec. 2024, 15:35

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Dec. 16. [YONHAP]

Shares kicked off higher Monday on eased market volatility after President Yoon Suk Yeol's impeachment over the weekend following his failed martial law bid.

Kospi added 10.79 points, or 0.43 percent, to 2,505.25 in the first 15 minutes of trading.

On Saturday, the National Assembly passed a motion to impeach Yoon to hold him accountable for his botched martial law declaration earlier this month that shocked the nation.

Samsung Electronics gained 0.36 percent, and SK hynix jumped 1.77 percent.

Other big-cap shares were mixed.

LG Energy Solution was flat, but Samsung SDI gained 1.34 percent.

Samsung Biologics dropped 0.3 percent, while Celltrion climbed 0.83 percent.

Naver advanced 1.19 percent, while Kakao lost 0.33 percent.

Automakers, however, started weak, with Hyundai Motor and Kia down 0.23 percent and 0.51 percent, respectively.

The local currency was trading at 1,430.30 won against the U.S. dollar at 9:15 a.m., down 2.7 won from the previous session.

Yonhap