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Kospi opens slightly higher on chip, financial gains

Published: 23 May. 2025, 11:32

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on May 23. [YONHAP]

Shares opened slightly higher Friday on chip and financial share gains.

The Kospi rose 1.69 points, or 0.07 percent, to 2,595.36 in the first 15 minutes of trading.

Overnight, U.S. stocks closed mixed after a session marked by high volatility.

The passage of U.S. President Donald Trump's tax bill through the House of Representatives was seen as a step toward resolving policy uncertainty, helping ease concerns that had been fueled by a sharp rise in U.S. Treasury yields the previous day.

The Dow Jones Industrial Average slipped 1.35 points, unchanged from the previous session percentage-wise, while the S&P 500 slid 0.04 percent. The tech-heavy Nasdaq composite gained 0.28 percent.

In Seoul, blue chips traded mixed.

Market heavyweight Samsung Electronics and chip rival SK hynix added 0.18 percent and 1.57 percent, respectively.

Financial shares also gained momentum. KB Financial rose 1.14 percent, and Shinhan Financial climbed 1.48 percent.

In contrast, bio and battery shares lost ground. Samsung Biologics dropped 1.39 percent, and top battery manufacturer LG Energy Solution declined 1.28 percent.

Automotive and heavy industry shares also retreated. Hyundai Motor fell 0.77 percent, and top defense systems manufacturer Hanwha Aerospace shed 1.56 percent.

The local currency was trading at 1,381.15 won against the greenback at 9:15 a.m., up 0.15 won from the previous session.

Yonhap