April 20, 2024
Market Now
Seoul shares open higher on foreign buying
[THE INVESTOR] South Korean stocks opened higher on May 29 on increased foreign buying.
The benchmark KOSPI gained 8.11 points, or 0.34 percent, to 2,363.41 in the first 15 minutes of trading.
The broad index didn‘t track losses on Wall Street on May 26. The Dow Jones industrial average dropped 0.01 percent.
Kim Ye-eun, an analyst at Cape Investment & Securities, said foreign investors bought large-cap stocks, giving a boost to the main index.
Large-cap stocks were mixed across the board. Market bellwether Samsung Electronics gained 0.48 percent, and No. 2 chipmaker SK hynix was up 0.88 percent.
Meanwhile, top auto parts maker Hyundai Mobis fell 0.71 percent, and top steelmaker POSCO was down 0.18 percent.
The local currency was trading at 1,119.55 won against the US dollar, up 1.15 won from the previous session‘s close.
By Alex Lee and newswires (alexlee@heraldcorp.com)
