Kospi opens higher following Trump's remarks on rates and oil prices
Published: 24 Jan. 2025, 10:42
![A screen in Hana Bank's trading shows the Kospi opening on Friday. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/01/24/667a743f-433f-409e-bf9f-42829875c233.jpg)
A screen in Hana Bank's trading shows the Kospi opening on Friday. [YONHAP]
Shares started higher Friday, driven by U.S. President Donald Trump's overnight comments on rates and oil prices.
The Kospi added 16.89 points, or 0.67 percent, to 2,532.38 in the first 15 minutes of trading.
Overnight, U.S. stocks were buoyed by Trump's video message for the World Economic Forum in Davos, Switzerland, calling for cuts in interest rates and oil prices.
The S&P 500 finished up 0.53 percent to hit an all-time high, and the Dow Jones Industrial Average climbed 0.9 percent. The Nasdaq composite added 0.22 percent.
In Seoul, market heavyweights led the positive start.
SK hynix rose 2.28 percent, and Kia edged up 0.1 percent.
Samsung Biologics advanced 2.37 percent, and Hyundai Mobis, an auto parts affiliate under Hyundai Motor Group, jumped 4.76 percent.
Naver went up 1.22 percent, and Hana Financial Group rose 1.02 percent.
The local currency was trading at 1,434.95 won against the U.S. dollar at 9:15 a.m., down 2.35 won from the previous session.
Yonhap
with the Korea JoongAng Daily
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