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Seoul stocks open higher on US tech rebound

(Yonhap)
(Yonhap)
South Korean shares opened higher Friday, tracking overnight gains on Wall Street helped by a US tech rebound. 

The benchmark Korea Composite Stock Price Index (KOSPI) rose 12.68 points, or 0.56 percent, to 2,285.38 in the first 15 minutes of trading.

The index got off to a strong start after a 2.59 percent plunge the previous session.

Stocks lifted despite uncertainties from the US presidential election in November, thanks to a rebound in tech heavyweights, such as Apple and Microsoft, and improved new home sales in August in the world's largest economy.

The tech-laden Nasdaq composite rose 0.37 percent to 10,672.27 on Thursday (New York time). The Dow Jones Industrial Average gained 0.2 percent, and the S&P 500 was up 0.3 percent.

Most large caps traded higher in Seoul.

Market bellwether Samsung Electronics edged up 0.17 percent, and No. 2 chipmaker SK hynix gained 1.07 percent.

Leading chemical maker LG Chem added 0.65 percent, but top automaker Hyundai Motor shed 0.58 percent.

Top pharmaceutical firm Samsung Biologics advanced 0.59 percent, and Celltrion jumped 2.8 percent.

The local currency was trading at 1,169.15 won against the US dollar, up 3.55 won from the previous session's close. (Yonhap)
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