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Kospi opens higher on Samsung gains

Published: 17 Mar. 2025, 09:49

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 17. [YONHAP]

Seoul shares got off to a strong start Monday, tracking Wall Street gains, as tech giant Samsung Electronics and other tech shares gathered ground on solid foreign buying.

The Kospi added 30.61 points, or 1.19 percent, to 2,596.97 in the first 15 minutes of trading.

U.S. shares jumped Friday as investors snapped up recently battered tech blue chips for bargain hunting while brushing off concerns about an economic slowdown and a global trade war.

The Dow Jones Industrial Average surged 1.65 percent, and the tech-heavy Nasdaq composite surged 2.61 percent.

In Seoul, Samsung Electronics spiked 4.02 percent, and SK hynix edged up 0.24 percent.

LG Energy Solution rose 0.31 percent, and Posco Holdings advanced 1.64 percent.

Bio shares opened mixed. Samsung Biologics increased 0.95 percent, while Celltrion shed 0.64 percent.

Carmakers opened lower. Hyundai Motor lost 0.76 percent, and Kia inched down 0.2 percent.

Naver climbed 0.24 percent, and Hanwha Aerospace soared 6.67 percent.

The local currency was trading at 1,451.65 won against the greenback at 9:15 a.m., down 2.15 won from the previous session.

Yonhap