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Kospi opens higher on tech, auto gains

Published: 17 Jun. 2025, 12:14

Korean bourse Kospi opens at 2,959.93, up 0.45 percent from the previous trading day, on June 17. [YONHAP]

Korean stocks traded higher late Tuesday morning, driven by the strong performances of tech and auto shares.

The benchmark Kospi added 17.44 points, or 0.59 percent, to 2,964.1 as of 11:20 a.m.

Overnight, Wall Street gained ground on hopes Israel and Iran will not go into a full-scale war on news Tehran wants to resume talks over its nuclear program, as well as the strong performance of tech shares supported by the planned discussions on AI at the ongoing Group of 7 summit in Canada.

The Dow Jones Industrial Average rose 0.75 percent, and the tech-heavy Nasdaq composite increased 1.52 percent, while the S&P 500 gained 0.94 percent.

In Seoul, tech behemoth Samsung Electronics jumped 2.1 percent, with its chipmaking rival SK hynix surging 2.22 percent.

Top automaker Hyundai Motor and its sister Kia both rose 1.74 percent, while major nuclear power plant manufacturer Doosan Enerbility increased 1.68 percent.

Leading shipbuilder Hanwha Ocean soared 7.03 percent, but its rival HD Hyundai Heavy sank 2.45 percent.

Defense giant Hanwha Aerospace fell 1.34 percent, and the country's biggest shipper, HMM, dipped 4.32 percent.

The local currency was trading at 1,363.5 won against the greenback at 11:20 a.m., up 0.3 won from the previous session.

YONHAP