Seoul: South Korean shares opened slightly higher on Thursday, reflecting positive movements in the U.S. stock market. The benchmark Korea Composite Stock Price Index (KOSPI) saw a modest increase of 1.75 points, reaching 2,612.11 within the first 15 minutes of trading.
According to Yonhap News Agency, the uptick in Seoul’s stock market follows a rebound in U.S. stocks, which occurred on Wednesday. The recovery came after a previous day of significant losses, fueled by concerns over potential downturns in key tech sectors, including artificial intelligence and semiconductors. The Dow Jones Industrial Average rose by 0.79 percent to close at 43,077.70, while the tech-centric Nasdaq Composite index grew by 0.28 percent, ending the day at 18,367.08.
In the Seoul market, performance among major companies was mixed. Samsung Electronics saw a slight increase of 0.17 percent, and SK hynix, the world’s second-largest chipmaker, advanced by 1.22 percent. Battery manufacturers also showed positive results; LG Energy
Solution’s stocks went up by 0.12 percent, and Samsung SDI experienced a 0.29 percent increase.
Conversely, the automotive sector faced setbacks, with Hyundai Motor’s shares dropping by 3.44 percent and its affiliate Kia experiencing a 2.15 percent decline.
The South Korean won weakened against the U.S. dollar, trading at 1,365.05, which is a decrease of 2.45 won from the previous session.