SEOUL – South Korean stocks opened higher on Tuesday, led by advances in technology shares, despite growing concerns over a potential government shutdown in the United States.
According to Yonhap News Agency, market data, the Korea Composite Stock Price Index (KOSPI) rose by 25.87 points, or 1.08 percent, to 2,429.63 in the first 15 minutes of trading. This increase occurred amid investor worries that the U.S. may face a government shutdown if Congress fails to pass a spending plan by Friday.
U.S. stocks had a mixed close overnight, with the Dow Jones Industrial Average gaining 0.16 percent while the Nasdaq Composite slipped by 0.22 percent. In Seoul, leading tech companies showed positive movement, with Samsung Electronics up by 0.71 percent and SK hynix gaining 0.23 percent. LG Energy Solution, a top battery maker, added 2.53 percent.
The chemical sector also saw gains, with LG Chem rising 2.09 percent and oil refiner SK Innovation increasing by 2.29 percent. In currency markets, the local currency was trading stronger at 1,320.8 won against the U.S. dollar, up by 4.3 won from the previous session's close.