Seoul Shares Rise on Wall Street Cues, Mixed Performances Among Tech Giants

Seoul: South Korean shares opened higher on Monday, influenced by positive movements in Wall Street the previous week. The benchmark Korea Composite Stock Price Index (KOSPI) saw an increase of 15.92 points, reaching 2,612.83 in the early trading session. According to Yonhap News Agency, the upward trend in Seoul was in step with gains on Wall Street, where the Dow Jones Industrial Average closed up by 0.97 percent and the Nasdaq Composite increased by 0.33 percent on Friday. The positive sentiment from U.S. markets provided a bullish start to the week for South Korean stocks. In the domestic market, major companies showed mixed results. Samsung Electronics, a leading technology firm, saw its shares rise by 1.35 percent, while its competitor in the semiconductor industry, SK hynix, recorded a more significant gain of 2.42 percent. On the other hand, LG Energy Solution, a major player in the battery market, experienced a decline of 1.34 percent. Similarly, Samsung SDI, another key firm in the same sector, sa w its shares drop by 3.22 percent. The automotive sector showed modest gains, with Hyundai Motor increasing by 1.01 percent and its affiliate Kia Motors up by 0.40 percent. The local currency, the won, was slightly weaker against the U.S. dollar, trading at 1,353.60, which is down by 3.1 won from the previous trading session.