SEOUL - South Korean stocks opened with an upward trend on Wednesday, influenced by the overnight gains on Wall Street due to a decrease in Treasury yields in the United States.
According to Yonhap News Agency, the benchmark index rose by 10.84 points, or 0.44 percent, to 2,454.80 within the first 15 minutes of trading. This positive start in Seoul's stock market mirrors the performance on Wall Street, where the Dow Jones Industrial Average went up by 0.2 percent and the Nasdaq Composite increased by 0.9 percent, largely driven by an easing in Treasury yields.
Notably, battery and bio-related shares in Seoul demonstrated strength in early trading. LG Energy Solution, a leading battery manufacturer, saw a rise of 2.03 percent, while SK bioscience added 2.52 percent. Telecom companies also experienced gains, with industry leader SK Telecom rising by 0.1 percent and its competitor KT jumping by 0.76 percent.
Other significant gainers included POSCO Holdings, a leading steelmaker, which rose by 0.65 percent, and Hyundai Motor, the top automaker, which added 0.11 percent. Concurrently, the local currency, the Korean won, was trading at 1,303.85 won against the U.S. dollar, up 4.05 won from the previous session's close.