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Kospi opens markedly higher on U.S. gains

Published: 01 Jul. 2025, 10:56

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on July 1. [YONHAP]

Shares got off to a strong start Tuesday, tracking gains on Wall Street amid hopes for progress in talks on the United States' tariff negotiations.

The Kospi rose 43.01 points, or 1.4 percent, to 3,114.71 in the first 15 minutes of trading.

Overnight, the S&P 500 and the tech-heavy Nasdaq hit all-time highs as investors welcomed signs of progress in trade talks between the United States and Canada, as well as other trading partners, and held onto hopes that the Federal Reserve will resume interest rate cuts.

In Seoul, most big-cap tech shares opened higher.

Market bellwether Samsung Electronics surged 1.67 percent, while chip giant SK hynix remained unchanged.

Leading biotech firm Samsung Biologics increased 0.71 percent, and nuclear power plant manufacturer Doosan Enerbility rose 0.58 percent.

Top automaker Hyundai Motor climbed 1.47 percent, and its sister affiliate Kia advanced 1.86 percent.

Leading financial firm KB Financial went up 1.08 percent, and defense giant Hanwha Aerospace soared 2 percent. No. 1 steelmaker Posco Holdings jumped 2.59 percent.

But leading battery maker LG Energy Solution lost 0.51 percent following sharp gains during the previous session.

The local currency was trading at 1,349.85 won against the greenback at 9:15 a.m., down 0.15 won from the previous session.

Yonhap