Kospi opens higher as investors hunt bargains after recent losses
Published: 04 Feb. 2025, 09:55
![A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Tuesday. [YONHAP]](https://koreajoongangdaily.joins.com/data/photo/2025/02/04/79ac5417-fe6e-485d-884d-7a0f78e13a6e.jpg)
A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Tuesday. [YONHAP]
Shares opened higher Tuesday as investors scooped up tech, automotive and other blue chips following steep losses the previous session.
The Kospi climbed 34.95 points, or 1.42 percent, to 2,488.90 in the first 15 minutes of trading.
On Monday, the Kospi plummeted 2.52 percent amid concerns over the United States' decision last week to impose high tariffs on goods imported from Canada and Mexico, potentially affecting Korean businesses operating there.
U.S. President Donald Trump has decided to pause impositions of tariffs on Canada and Mexico for a month, as the two countries unveiled new plans to fend off drug trafficking at their borders.
Blue chips gained ground across the board, with Samsung Electronics rising 3.53 percent and LG Electronics adding 1.41 percent.
Automotive and financial shares also advanced. Hyundai Motor and Kia rose 2.23 percent and 2.71 percent, respectively, while KB Financial climbed 2.48 percent.
Kakao inched up 0.12 percent following an expected collaboration announcement with U.S. AI company OpenAI.
Krafton also soared 4.31 percent over news of a prospective meeting between executives and OpenAI founder Sam Altman in Seoul to discuss potential cooperation.
The local currency was trading at 1,459.50 won against the U.S. dollar at 9:15 a.m., down 7.70 won from the previous session.
Yonhap
with the Korea JoongAng Daily
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