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Kospi opens higher on chip, bio gains

Published: 21 May. 2025, 10:49 Updated: 28 May. 2025, 19:00

The Kospi is shown on a screen in the dealing room at Hana Bank's headquarters in Jung District, central Seoul on May 21. [YONHAP]

Korean stocks opened higher Wednesday, as investors scooped up semiconductor, bio and other blue chips despite overnight losses on Wall Street.

The benchmark Korea Composite Stock Price Index (Kospi) gained 22.41 points, or 0.86 percent, to 2,624.21 in the first 15 minutes of trading.

Overnight, all major U.S. stock indices fell, taking a pause following recent Wall Street gains amid a lack of market-moving catalysts.

The Dow Jones Industrial Average fell 0.27 percent, and the S&P 500 dropped 0.39 percent. The tech-heavy Nasdaq composite shed 0.38 percent.

In Seoul, chip and bio shares led the overall gains.

Market heavyweight Samsung Electronics and chip rival SK hynix jumped 0.89 percent and 0.74 percent, respectively, while leading bio company Samsung Biologics climbed 2.63 percent.

Battery manufacturers and shipbuilders also enjoyed positive trading. Leading battery manufacturer LG Energy Solution rose 1.25 percent, and shipbuilding giant HD Hyundai Heavy Industries added 2.64 percent.

The local currency was trading at 1,388.95 won against the greenback at 9:15 a.m., down 3.45 won from the previous session.

Yonhap