Seoul stocks open on bullish note

Seoul stocks open on bullish note

South Korean share prices opened in the positive on Wednesday to make a rebound from the four-month low they fell to in the previous session.

The benchmark Korea Composite Stock Price Index gained 11.74 points, or 0.62 percent, to 1,902.60 in the first 15 minutes of trading.

The index was up more than 1 percent as of 11 a.m., trading at around 1913 points.

On Tuesday, the index sank 0.21 percent to 1,890.86, the lowest since Sept. 8, 2015.

Most large caps were trading higher in the morning session, with top market cap Samsung Electronics advancing 0.44 percent. State-run Korea Electric Power Corp. also adding 0.99 percent.

No. 1 automaker Hyundai Motor remained flat, while its smaller affiliate Kia Motors gained 0.70 percent.

Overnight, U.S. stocks continued on a path of recovery from a recent stock market rout in China. The Dow Jones industrial average gained 0.72 percent to close at 16,516.22.

The local currency was trading at 1,208.80 won against the U.S. dollar as of 9:15 a.m., up 1.50 won from Tuesday’s close and rebounding from the lowest level since July 19, 2010.


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