Home

The Korea Herald

Latest news

Most Popular

  1. 1

    NewJeans to terminate contract with Ador

    NewJeans to terminate contract with Ador
  2. 2

    Korean Air gets European nod to become Northeast Asia’s largest airline

    Korean Air gets European nod to become Northeast Asia’s largest airline
  3. 3

    NewJeans terminates contract with Ador, embarks on new journey

    NewJeans terminates contract with Ador, embarks on new journey
  4. 4

    Seoul snowfall now third heaviest on record

    Seoul snowfall now third heaviest on record
  5. 5

    Heavy snow of up to 40 cm blankets Seoul for 2nd day

    Heavy snow of up to 40 cm blankets Seoul for 2nd day
  1. 6

    Chaos unfolds as rare November snowstorm grips Korea for 2nd day

    Chaos unfolds as rare November snowstorm grips Korea for 2nd day
  2. 7

    ‘VCHA, Katseye and Dear Alice are not K-pop groups,’ industry experts say

    ‘VCHA, Katseye and Dear Alice are not K-pop groups,’ industry experts say
  3. 8

    BOK makes surprise 2nd rate cut to boost growth

    BOK makes surprise 2nd rate cut to boost growth
  4. 9

    Ador claims exclusive contracts with NewJeans still valid

    Ador claims exclusive contracts with NewJeans still valid
  5. 10

    Japan will pay for failing to honor promises, minister says

    Japan will pay for failing to honor promises, minister says
지나쌤

Seoul stocks open higher on easing US debt ceiling woes, earnings hope

By Yonhap

Published : Oct. 8, 2021 - 09:47

    • Link copied

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Friday. (Yonhap) The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Friday. (Yonhap)
South Korean stocks opened higher Friday on easing concerns of the debt ceiling impasse in the United States and hopes of robust third-quarter earnings by local companies.

The benchmark Korea Composite Stock Price Index (Kospi) rose 9.33 points, or 0.32 percent, to 2,968.79 points in the first 15 minutes of trading.

The key stock index got off to a strong start after overnight Wall Street gains, as a temporary resolution of the debt-ceiling tussle is due for a vote in Washington.

Overnight, the tech-heavy Nasdaq composite advanced 1.05 percent, and the S&P 500 moved up 0.83 percent. The Dow Jones Industrial Average climbed 0.98 percent.

Expectations of strong third-quarter corporate earnings also boosted the investor sentiment, as KOSPI's top cap Samsung Electronics Co. is expected to post record sales in the third quarter, apparently buoyed by its semiconductor business.

Samsung Electronics edged up 0.14 percent, but No. 2 chipmaker SK hynix retreated 0.73 percent.

Internet portal operator Naver retreated 0.38 percent, but pharmaceutical giant Samsung Biologics added 0.49 percent.

Top automaker Hyundai Motor increased 2.24 percent, and leading chemical firm LG Chem gained 1.63 percent.

The local currency was trading at 1,192.45 won to the US dollar, down 2.05 won from the previous session's close. (Yonhap)

More from Headlines