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South Korean stocks opened higher Friday, tracking overnight Wall Street gains that stemmed from strong US economic data and upcoming federal spending plans.
The benchmark Korea Composite Stock Price Index (Kospi) rose 18.56 points, or 0.59 percent, to reach 3,184.07 points in the first 15 minutes of trading.
The Dow Industrial Average gained 0.41 percent, as jobless data declined to a fresh pandemic low, and the S&P 500 edged up 0.12 percent. The world's largest economy will soon reveal a budget plan, reportedly worth some $6 trillion.
In addition, local investor sentiment improved as US Treasury Secretary Janet Yellen said the current price hikes are likely temporary, although they may last throughout the rest of the year.
In Seoul, market bellwether Samsung Electronics added 0.25 percent, and No. 2 chipmaker SK hynix advanced 0.4 percent.
Internet portal operator Naver traded flat, with giant pharmaceutical firm Samsung Biologics climbing 1.1 percent.
Top automaker Hyundai Motor jumped 3.63 percent, and leading chemical firm LG Chem moved up 2.24 percent.
The local currency was trading at 1,117.4 won against the US dollar, up 0.7 won from the previous session's close. (Yonhap)
The benchmark Korea Composite Stock Price Index (Kospi) rose 18.56 points, or 0.59 percent, to reach 3,184.07 points in the first 15 minutes of trading.
The Dow Industrial Average gained 0.41 percent, as jobless data declined to a fresh pandemic low, and the S&P 500 edged up 0.12 percent. The world's largest economy will soon reveal a budget plan, reportedly worth some $6 trillion.
In addition, local investor sentiment improved as US Treasury Secretary Janet Yellen said the current price hikes are likely temporary, although they may last throughout the rest of the year.
In Seoul, market bellwether Samsung Electronics added 0.25 percent, and No. 2 chipmaker SK hynix advanced 0.4 percent.
Internet portal operator Naver traded flat, with giant pharmaceutical firm Samsung Biologics climbing 1.1 percent.
Top automaker Hyundai Motor jumped 3.63 percent, and leading chemical firm LG Chem moved up 2.24 percent.
The local currency was trading at 1,117.4 won against the US dollar, up 0.7 won from the previous session's close. (Yonhap)
