Seoul shares open higher on tech, auto gains

SEOUL– South Korean stocks opened higher Monday on strong advances by tech and auto heavyweights.

The benchmark Korea Composite Stock Price Index (KOSPI) had increased 14.59 points, or 0.62 percent, to 2,363.02 points as of 9:15 a.m.

Tech and auto giants led the KOSPI’s hike after a media report that the chair of Boeing Co. met with top officials of Samsung Electronics, Hyundai Motor Group and Hanwha Solutions to discuss new business cooperation.

Market bellwether Samsung Electronics rose 1.18 percent. Top automaker Hyundai Motor jumped 3.68 percent, with its smaller affiliate Kia rising 1.99 percent.

Hanwha Aerospace was up 0.8 percent, and chip giant SK hynix added 1.66 percent.

The South Korean currency had been changing hands at 1,410.8 won against the U.S. dollar as of 9:15 a.m., up 8.4 won from the previous session’s close.

Source: Yonhap News Agency

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