Home > Business > Economy

Kospi opens higher on tech, auto gains

Published: 16 May. 2025, 11:01 Updated: 28 May. 2025, 19:01

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on May 15. [YONHAP]

Korean stocks opened higher Friday, led by gains in tech and auto shares.

The benchmark Kospi added 11.54 points, or 0.44 percent, to 2,632.90 in the first 15 minutes of trading.

On Wall Street overnight, U.S. stocks finished mixed. The Dow Jones Industrial Average rose 0.65 percent, and the S&P 500 climbed 0.41 percent, while the Nasdaq composite slipped 0.18 percent.

In Seoul, tech and auto shares led the upbeat start.

Chip giant SK hynix rose 2 percent, and Kakao, the operator of the largest mobile chat app KakaoTalk, advanced 0.13 percent.

Top carmaker Hyundai Motor increased 0.31 percent and its sister Kia went up 0.77 percent.

Energy shares were also strong as state-run Korea Electric Power Corp. rose 1.98 percent and Korea Gas Corp. rose 0.97 percent.

However, top-cap Samsung Electronics lost 0.35 percent, and leading battery maker LG Energy Solution dropped 2.77 percent.

The local currency was trading at 1,395.2 won against the U.S. dollar at 9:15 a.m., down 2.5 won from the previous session.

Yonhap