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Seoul shares open tad higher ahead of US jobs dataBy Yonhap
Published : Aug. 4, 2023 - 09:39
South Korean stocks started a tad higher Friday as investors await the US' July job data, which is expected to give clues for the outlook of the Federal Reserve's monetary tightening policy.
The benchmark Korea Composite Stock Price Index rose 6.46 points, or 0.25 percent, to 2,611.85 in the first 15 minutes of trading.
All three major US indexes finished a tad lower Thursday was investors digested higher Treasury yields and latest corporate earnings ahead of US job data for July set to be released later in the day.
In Seoul, big-cap shares traded mixed.
Market behemoth Samsung Electronics inched up 0.15 percent, but No. 2 chipmaker SK hynix dipped 0.25 percent.
Leading battery maker LG Energy Solution was flat, while its smaller rival Samsung SDI went up 0.63 percent and Posco Future M added 0.1 percent.
Auto and IT stocks started in positive terrain.
Hyundai Motor and Kia advanced 0.52 percent and 0.37 percent, respectively.
Internet portal operator Naver jumped 2.69 percent on a strong earnings report, and Kakao, the operator of popular mobile messenger KakaoTalk, rose 0.94 percent.
Steel giant Posco Holdings also went up more than 1 percent.
The local currency was trading at 1,299.60 won against the US dollar at 9:15 a.m., down 0.5 won from Thursday's close. (Yonhap)
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