South Korean stocks opened higher Friday, tracking pre-Christmas gains on Wall Street boosted by confidence in the US economy and hopes for a year-end Santa Claus rally.
The benchmark Korea Composite Stock Price Index added 22.97 points, or 0.56 percent, to 4,131.59 in the first 15 minutes of trading.
Major US indexes ended higher Wednesday, with the Dow Jones Industrial Average adding 0.6 percent and the tech-heavy Nasdaq composite rising 0.22 percent.
The US Volatility Index, also known as the fear index, fell to 13.4 points, the lowest mark this year, while data also showed that applications for unemployment benefits fell last week, lifting investors’ confidence in the world’s largest economy.
In Seoul, tech giant Samsung Electronics kicked off 2.88 percent higher, while its chipmaking rival SK hynix increased 1.02 percent.
Major shipbuilders, HD Hyundai Heavy and Hanwha Ocean, also started in positive terrain, rising 0.39 percent and 1.43 percent, respectively.
Artificial intelligence investment firm SK Square soared 3.74 percent.
On the other hand, leading battery maker LG Energy Solution went down 0.51 percent, and power plant manufacturer Doosan Enerbility dropped 0.79 percent.
Auto and financial shares started in negative terrain.
Hyundai Motor edged down 0.09 percent, and its sister Kia fell 0.21 percent, while KB Financial was down 1.35 percent, and Shinhan Financial lost 1.41 percent.
The Korean won was trading at 1,453.2 won against the US dollar, down 3.4 won from the previous session. (Yonhap)
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