Kospi opens higher on bargain hunting

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Kospi opens higher on bargain hunting

Published: 01 Apr. 2025, 10:02

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on April 1. [YONHAP]

Seoul shares started higher Tuesday on bargain hunting following a sharp drop in the previous session.

The Kospi added 38.96 points, or 1.57 percent, to 2,520.08 in the first 15 minutes of trading.

On Monday, the index lost 3 percent to a near two-month low due to concerns over U.S. tariff plans and the resumption of short selling, which had been banned for more than a year.

Overnight, U.S. stocks finished mixed ahead of the Trump administration's announcement on reciprocal tariffs.

The Dow Jones Industrial Average rose 1 percent and the S&P 500 increased 0.55 percent, while the Nasdaq composite fell 0.14 percent.

In Seoul, large caps led the strong opening.

Samsung Electronics rose 1.38 percent and SK hynix gained 1.52 percent.

Hyundai Motor added 1.12 percent and Kia climbed 0.98 percent.

Posco Holdings increased 1.26 percent and Samsung Biologics jumped 3.45 percent.

The local currency was trading at 1,474.15 won against the U.S. dollar at 9:15 a.m., up 1.25 won from the previous session.

Yonhap