Kospi opens higher on chip, defense shares

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Kospi opens higher on chip, defense shares

This photo taken Jan. 12, shows the dealing room of Hana Bank in Seoul. [YONHAP]

This photo taken Jan. 12, shows the dealing room of Hana Bank in Seoul. [YONHAP]

 
Korean stocks opened higher Monday, driven by gains in semiconductor and defense shares.
 
The Kospi rose 29.81 points, or 0.65 percent, to 4,616.13 in the first 15 minutes of trading.
 

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On Friday, the Dow Jones Industrial Average rose 0.48 percent, and the tech-heavy Nasdaq Composite added 0.81 percent.
 
In Seoul, chip and defense shares led the upbeat start.
 
Market bellwether Samsung Electronics added 0.36 percent, and its chipmaking rival SK hynix advanced 0.54 percent.
 
Defense giant Hanwha Aerospace increased 0.87 percent, and LIG Nex1 jumped 3.14 percent.
 
Auto shares were also strong with industry leader Hyundai Motor soaring 2.73 percent, while its sister Kia climbed 0.53 percent.
 
The local currency was trading at 1,460 won against the greenback at 9:15 a.m., up 0.16 percent from the previous session's close of 1,457.60.

Yonhap
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