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Kospi opens higher on tech gains

Published: 28 May. 2025, 10:35 Updated: 28 May. 2025, 18:59

The Kospi and the U.S. Treasury index are shown on a display board at a Hana Bank dealing room in Jung District, central Seoul, on May 23. [YONHAP]

Korean stocks opened higher Wednesday as large-cap tech shares gathered ground following solid gains on Wall Street.

The benchmark Kospi rose 18.41 points, or 0.7 percent, to 2,655.63 in the first 15 minutes of trading.

Overnight, U.S. shares finished markedly higher as investors welcomed news that President Donald Trump had extended the deadline for imposing aggressive tariffs on the European Union.

The Dow Jones Industrial Average surged 1.78 percent, while the tech-heavy Nasdaq composite soared 2.47 percent.

In Seoul, most top-cap shares opened higher.

Market bellwether Samsung Electronics rose 1.86 percent, and chip giant SK hynix jumped 2.47 percent.

Leading battery maker LG Energy Solution advanced 0.73 percent, while No. 1 steelmaker Posco Holdings climbed 1.69 percent.

Top automaker Hyundai Motor increased 1.04 percent, and its sister affiliate Kia advanced 1.36 percent.

Bio shares opened mixed. Major bio firm Samsung Biologics added 0.49 percent, but Celltrion fell 1.03 percent.

Defense giant Hanwha Aerospace dipped 1.58 percent, and leading financial firm KB Financial went down 1.28 percent.

The local currency was trading at 1,371.95 won against the greenback at 9:15 a.m., down 2.45 won from the previous session.

Yonhap