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The Korea Herald
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THE INVESTOR
March 29, 2024

Market Now

Seoul stocks open higher on Wall Street gains

  • PUBLISHED :January 08, 2018 - 09:35
  • UPDATED :January 08, 2018 - 09:35
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[THE INVESTOR] South Korean stocks opened higher on Jan.8, tracking the latest gains on Wall Street that were spurred by the US tax cut package and positive economic data.

The benchmark Korea Composite Stock Price Index (KOSPI) gained 3.27 points, or 0.13 percent, to 2,500.79 in the first 15 minutes of trading.

Shares across the board were in positive terrain as all three major indices on Wall Street exceeded their previous closing records Friday on growing optimism in regards to corporate tax cuts and generally upbeat jobs data.

No. 1 automaker Hyundai Motor added 0.34 percent, and leading steelmaker POSCO gained 0.27 percent.

Top chemical maker LG Chem rose 0.49 percent.

In contrast, tech shares declined.

Market kingpin Samsung Electronics slipped 0.27 percent, and SK hynix, a major chipmaker, fell 0.78 percent.

The local currency was trading at 1,062.2 won against the US dollar, up 0.5 won from the previous session‘s close.

By Alex Lee and newswires (alexlee@heraldcorp.com)

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