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피터빈트

Korean shares open higher on oil rebound

By Korea Herald

Published : Feb. 25, 2016 - 11:19

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Share prices in Seoul opened bullish Thursday, tracking overnight Wall Street gains triggered by a rebound in international oil prices.

Hopes for more stimulus measures in China amid financial turmoil there also boosted sentiment, analysts said. 

Traders monitor Seoul share prices at a local bank.(Yonhap) Traders monitor Seoul share prices at a local bank.(Yonhap)

The benchmark Korea Composite Stock Price Index rose 9.3 points, or 0.49 percent, to 1,921.83 in the first 15 minutes of trading. As of 9:58 a.m., the index was trading 0.68 percent higher at 1925.54.

U.S. stocks rebounded overnight as oil prices pared earlier losses. Speculation is also rising over more stimulus measures from China ahead of the Group of 20 meeting slated for Friday.

Market kingpin Samsung Electronics edged up 0.26 percent, and top automaker Hyundai Motor climbed 0.34 percent. Korea Electric Power Corp., the state-run power provider, surged 1.77 percent.

The Korean currency was trading at 1,235.6 won against the U.S. dollar, down 1.2 won from Wednesday’s close.

(khnews@heraldcorp.com)

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