Seoul Shares Rise as Technology and Battery Sectors Lead Gains

SEOUL: South Korean stocks opened on a positive note Monday, driven by gains in the semiconductor and battery sectors. The Korea Composite Stock Price Index (KOSPI) increased by 14.75 points, or 0.57 percent, reaching 2,598.02 shortly after the market opened. According to Yonhap News Agency, market leader Samsung Electronics saw its shares rise by 1.61 percent. Its competitor in the chipmaking industry, SK hynix, also experienced a gain of 0.75 percent. In the battery sector, LG Energy Solution's shares increased by 0.86 percent, while POSCO Future M experienced a significant surge, rising by 3.74 percent. The automotive sector also saw upward movement, with Hyundai Motor shares increasing by 0.67 percent and its affiliate Kia climbing 2.59 percent. Meanwhile, the local currency was trading at 1,388.95 won against the U.S. dollar, a slight decrease of 0.25 won from the previous session.