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Kospi opens higher on tech gains, shipbuilding and IT lose ground

Published: 20 Jun. 2025, 10:22

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on June 20. [YONHAP]

Shares opened higher Friday to continue their upward momentum, driven by gains in big-cap tech shares.

The Kospi rose 9.23 points, or 0.31 percent, to 2,986.97 in the first 15 minutes of trading.

Wall Street was closed overnight for a federal holiday commemorating the end of slavery in the United States.

Investors' eyes are on whether the Kospi can reach the 3,000-point mark for the first time in over three years amid persisting tensions in the Middle East sparked by military conflict between Israel and Iran.

U.S. President Donald Trump said he will make up his mind within two weeks on whether Washington will get directly involved in the Israel-Iran conflict.

Tech behemoth Samsung Electronics kicked off unchanged, while its chipmaking rival SK hynix jumped 3.25 percent.

Bio shares also started strong, with Samsung Biologics up 0.6 percent and Celltrion gaining 0.94 percent.

Leading battery maker LG Energy Solution added 0.69 percent and defense giant Hanwha Aerospace went up 0.54 percent.

Korea's biggest shipper HMM also climbed 1.32 percent.

But IT shares began weak as investors moved to take profit following a recent rally.

Internet portal operator Naver went down 1.59 percent and Kakao, the operator of the country's dominant mobile messenger, dropped 0.5 percent.

Shipbuilding shares also lost ground, with HD Hyundai Heavy down 0.35 percent, Hanwha Ocean dipping 1.46 percent and HD Korea Shipbuilding losing 1.45 percent.

Nuclear power plant manufacturer Doosan Enerbility also slipped 3.11 percent.

The local currency was trading at 1,370.2 won against the greenback at 9:15 a.m., up 10 won from the previous session.

Yonhap