Seoul shares open tad higher amid eased inflation woesBy Yonhap
Published : July 4, 2023 - 09:46
South Korean stocks opened a tad higher Tuesday, driven by tech heavyweights and signs of easing inflation.
The benchmark Korea Composite Stock Price Index advanced 4.13 points, or 0.16 percent, to 2,606.6 in the first 15 minutes of trading.
All US stock indexes finished higher Monday ahead of a one-day close for the Independence Day holiday amid signs of moderating inflation. Tesla Inc. advanced 6.9 percent on record quarterly sales.
South Korea also saw its consumer price growth slow for the fifth straight month in June, falling below 3 percent for the first time in 21 months.
In Seoul, most large-cap shares gained ground.
Market bellwether Samsung Electronics rose 0.41 percent, and No. 2 chipmaker SK hynix edged up 0.17 percent.
Top automaker Kia advanced 1.47 percent, steelmaker Posco Future M went up 0.68 percent and LG Electronics jumped 4.09 percent.
Leading energy company SK Innovation climbed 3.12 percent.
Top battery maker LG Energy Solution fell 0.7 percent, and leading chemical producer LG Chem slid 0.87 percent. Kakao, the operator of the popular mobile messenger KakaoTalk, also retreated 0.78 percent.
The local currency was trading at 1,304.3 won against the US dollar at 9:15 a.m., up 3.7 won from Monday's close. (Yonhap)
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