Seoul: South Korean shares opened slightly higher Friday, influenced by positive movements on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) saw an increase of 4.09 points, reaching 2,613.39 within the first quarter-hour of trading.
According to Yonhap News Agency, the uplift in the Korean stock market follows a successful trading session in the United States where the Dow Jones Industrial Average rose by 0.37 percent to close at a new high of 43,239.05. This marked the second consecutive session of gains, spurred by encouraging consumer spending data. Reports from the U.S. Department of Commerce indicated a 0.4 percent increase in retail sales for September, surpassing the expected 0.3 percent.
In the Seoul stock market, performances among large caps were varied. Technology leader Samsung Electronics saw a rise of 0.5 percent, however, its competitor in the chipmaking sector, SK hynix, experienced a significant drop of 1.68 percent. LG Energy Solution, a top battery producer, also fac
ed a decrease of 0.63 percent, though its competitor Samsung SDI recorded a modest gain of 0.3 percent.
The automotive sector showed mixed results as well; Hyundai Motor’s stocks remained unchanged, whereas Kia Motors reported a slight decline of 0.11 percent. Meanwhile, the local currency, the won, weakened against the U.S. dollar, trading at 1,370.85, down by 2.25 won from the previous trading session.