SEOUL - South Korean stocks opened higher on Monday, buoyed by encouraging export data, particularly in the semiconductor industry. The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.36 percent to 2,418.25 in the first 15 minutes of trading.
According to Yonhap News Agency, South Korea's exports increased by 3.2 percent year-on-year to US$18.2 billion in the first ten days of November. Notably, outbound shipments of semiconductors rose by 1.3 percent, marking the first increase since August 2022. However, investor sentiment was tempered by Moody's recent decision to downgrade the rating outlook for the United States to "negative" from "stable," citing political deadlock in Congress over spending as a potential risk to the country's fiscal health. In the Seoul stock market, major companies showed mixed performance. Samsung Electronics saw a gain of 0.43 percent, while SK hynix, another leading chipmaker, surged 1.76 percent. In contrast, Hyundai Motor, the top automaker, experienced a slight decline of 0.12 percent, although its affiliate Kia recorded a rise of 0.39 percent. The Korean won traded at 1,319.10 against the U.S. dollar, down 2.3 won from the previous session's close.