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Seoul stocks open higher on tech gains

Seoul stocks open higher on tech gains

SEOUL: South Korean stocks opened higher Monday as institutional buyers scooped up large-cap tech shares, analysts said. The benchmark Korea Composite Stock Price Index rose 17.05 points, or 0.73 percent, to 2,360.77 in the first 15 minutes of trading. Wall Street stocks finished lower Friday (local time), with the S&P 500 shedding 0.2 percent and the tech-rich Nasdaq Composite Index tumbling 0.6 percent.

Most large caps on the Seoul bourse opened higher, with tech shares leading the gain. Market bellwether Samsung Electronics gained 1.67 percent, and global chipmaker SK hynix jumped 1.79 percent. The local currency was trading at 1,127.7 won against the US dollar, up 0.2 won from the previous session’s close.