Seoul: South Korean stocks got off to a strong start Monday, tracking Wall Street gains, as tech giant Samsung Electronics and other tech shares gathered ground on solid foreign buying. The benchmark Korea Composite Stock Price Index (KOSPI) added 30.61 points, or 1.19 percent, to 2,596.97 in the first 15 minutes of trading.
According to Yonhap News Agency, U.S. shares jumped Friday as investors snapped up recently battered tech blue chips for bargain hunting while brushing off concerns about an economic slowdown and a global trade war. The Dow Jones Industrial Average surged 1.65 percent, and the tech-heavy Nasdaq composite surged 2.61 percent.
In Seoul, market bellwether Samsung Electronics spiked 4.02 percent, and chip giant SK hynix edged up 0.24 percent. Leading battery maker LG Energy Solution rose 0.31 percent, and No. 1 steelmaker POSCO Holdings advanced 1.64 percent.
Bio shares opened mixed. Major bio firm Samsung Biologics increased 0.95 percent, while Celltrion shed 0.64 percent. Carmakers opened lower. Top automaker Hyundai Motor lost 0.76 percent, and its sister affiliate Kia inched down 0.2 percent.
Top portal operator Naver climbed 0.24 percent, and leading defense equipment manufacturer Hanwha Aerospace soared 6.67 percent. The local currency was trading at 1,451.65 won against the greenback at 9:15 a.m., up 2.15 won from the previous session.