Seoul: Seoul shares opened higher on Monday, reflecting a positive trend from Wall Street’s gains last week. The benchmark Korea Composite Stock Price Index (KOSPI) experienced a modest increase of 5.19 points or 0.2 percent, reaching 2,599.01 within the first quarter-hour of trading.
According to Yonhap News Agency, the uptick in Seoul’s stock market came after a period of gains in the United States. The Dow Jones Industrial Average rose by 0.09 percent to 43,275.91, and the Nasdaq Composite increased by 0.63 percent to 18,489.55, both observed on Friday in U.S. time.
Despite the overall positive opening, the performance among large-cap stocks in Seoul was mixed. Leading technology firm Samsung Electronics Co. saw its shares fall by 0.8 percent. Similarly, Hyundai Mobis Co., a top auto parts maker, dropped by 1.2 percent, while the second-largest carmaker, Kia Corp., decreased by 0.2 percent. Samsung Heavy Industries Co. also recorded a decline of 0.3 percent.
Conversely, there were notable gainers in the
market. Hyundai Motor Co., the top carmaker, saw a rise of 0.4 percent. Korean Air Co., the national flag carrier, increased by 1.7 percent. Chemicals giant LG Chem Ltd. climbed by 0.6 percent, and leading budget airline Jeju Air Co. surged by 2.4 percent.
The local currency, the won, also showed strength against the U.S. dollar, trading at 1,367.60 won, up by 2.1 won from the previous trading session. This enhancement in the currency value goes hand in hand with the positive sentiments reflected in the stock market.