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Kospi opens higher on auto, battery gains

Published: 25 Mar. 2025, 10:51

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on March 25. [YONHAP]

Seoul shares opened higher Tuesday, tracking gains on Wall Street, helped by gains in auto and battery stocks.

The benchmark Kospi rose 2.27 points, or 0.09 percent, to 2,634.34 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average rose 1.42 percent, and the tech-heavy Nasdaq composite advanced 2.27 percent.

Auto and battery stocks led gains.

Top carmaker Hyundai Motor jumped 5.16 percent, its smaller affiliate Kia rose 3.04 percent, and leading auto parts maker Hyundai Mobis advanced 1.79 percent.

The automaking group announced a record $21 billion in the United States through 2028 amid the Trump administration's tariff policies.

Leading battery maker LG Energy Solution jumped 3.02 percent, and No. 2 battery firm Samsung SDI was up 1.24 percent.

Auto and battery stocks advanced on the news that Hyundai Motor Group will invest $21 billion in the United States through 2028 amid the Trump administration's tariff pressure to boost domestic manufacturing.

Among decliners, market bellwether Samsung Electronics fell 0.5 percent, and chip giant SK hynix declined 0.71 percent.

Leading shipbuilder HD Hyundai Heavy Industries fell 2.85 percent, and shipbuilder Hanwha Ocean declined 3.83 percent.

The local currency was trading at 1,468.95 won against the greenback at 9:15 a.m., down 1.25 won from the previous session.

Yonhap