Kospi opens higher as trade war concerns between U.S. and China ease

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Kospi opens higher as trade war concerns between U.S. and China ease

Published: 06 Feb. 2025, 10:33

A person stands in front of a screen in Hana Bank's trading room in central Seoul on Feb. 6. [YONHAP]

Shares opened higher Thursday, tracking gains on Wall Street, amid eased concerns over a trade war between the United States and China.

The Kopsi rose 12.07 points, or 0.48 percent, to 2,521.34 in the first 15 minutes of trading.

Overnight, U.S. stocks advanced, helped by eased concerns about a potential global trade war amid U.S. President Donald Trump's 30-day reprieves for tariffs on both Mexico and Canada announced earlier this week.

The Dow Jones Industrial Average rose 0.7 percent, and the Nasdaq composite climbed 0.19 percent.

In Seoul, chip and auto stocks led gains.

Samsung Electronics rose 1.3 percent, SK hynix jumped 2.1 percent and Hyundai Motor gained 1 percent.

Korean Air climbed 0.6 percent, and HMM was up 0.7 percent.

Among decliners, HD Hyundai fell 0.5 percent, Posco Holdings declined 0.8 percent and LG Chem shed 1.8 percent.

The local currency was trading at 1,444.90 won against the U.S. dollar at 9:15 a.m., up 0.6 won from the previous session.

Yonhap