Kospi rises as Wall Street rallies on Trump's softer trade tone

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Kospi rises as Wall Street rallies on Trump's softer trade tone

A screen in Hana Bank's trading room shows the Kospi opening on Jan. 22. [YONHAP]

A screen in Hana Bank's trading room shows the Kospi opening on Jan. 22. [YONHAP]

 
Shares started higher Wednesday, tracking overnight gains on Wall Street driven by U.S. President Donald Trump's softer-than-expected tone in trade policies.
 
The Kospi added 14.95 points, or 0.59 percent, to 2,532.98 in the first 15 minutes of trading.
 

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In the United States, major stock indexes finished higher as Trump warned of imposing tariffs on Canadian and Mexican goods from Feb. 1 but stopped short of laying out detailed plans and other protectionist policies against trade partners.
 
The Dow Jones Industrial Average rose 1.24 percent, and the Nasdaq composite gained 0.64 percent.
 
In Seoul, tech, battery and bio shares began in positive territory.
 
Naver advanced 1.96 percent and LG Energy Solution climbed 0.71 percent.
 
Samsung Biologics surged 3.1 percent, while Hanwha Ocean went up 0.55 percent.
 
Samsung Electronics and SK hynix remained flat.
 
The local currency was trading at 1,431.75 won against the U.S. dollar at 9:15 a.m., down 7.75 won from the previous session.
 
 
 

Yonhap
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