Kospi opens 1.12% higher driven by large-cap shares

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Kospi opens 1.12% higher driven by large-cap shares

Published: 03 Jan. 2025, 10:03

Hana Bank's dealing room in central Seoul on Jan. 2. [YONHAP]

Korean stocks pulled off a strong start Friday driven by gains in large-cap shares as investors sought to buy oversold shares.

The Kospi gained 26.95 points, or 1.12 percent, to 2,425.89 in the first 15 minutes of trading.

Overnight, three U.S. major stock indices closed in negative territory on the first trading day of 2025.

The Dow Jones Industrial Average fell 0.36 percent, and the Nasdaq composite lost 0.16 percent, while the S&P 500 fell 0.22 percent.

In Seoul, market heavyweights led the upbeat start.

Samsung Electronics climbed 0.19 percent, and SK hynix rose 1.93 percent.

Hyundai Motor advanced 0.71 percent, and LG Energy Solution jumped 2.75 percent.

The local currency was trading at 1,467.85 won against the greenback at 9:15 a.m., up 1.25 won from the previous session.

Yonhap