Seoul: South Korean stocks started a tad higher Wednesday on gains from chip and bio shares. The benchmark Korea Composite Stock Price Index (KOSPI) added 4.87 points, or 0.1 percent, to 4,697.51 in the first 15 minutes of trading. The index opened 0.16 percent lower but soon turned positive, briefly topping the 4,700-point mark for the first time.
According to Yonhap News Agency, the U.S. stock market fell overnight on a drop in financial shares, with the Dow Jones Industrial Average losing 0.8 percent and the Nasdaq Composite falling 0.1 percent. However, in Seoul, semiconductor and bio shares led the early gains. Chip giant Samsung Electronics rose 0.22 percent, and SK hynix advanced 0.41 percent. Samsung Biologics increased 1.52 percent, and SK bioscience gained 1.04 percent.
Auto shares showed mixed performance as industry leader Hyundai Motor stayed flat, and its sister company Kia jumped 5.51 percent. Meanwhile, the local currency was trading at 1,479.05 won against the greenback at 9:15 a.m., down 5.15 won from the previous session.