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지나쌤

Seoul shares open higher on bargain hunting

By Yonhap

Published : May 27, 2024 - 09:34

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An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap) An electronic board showing the Korea Composite Stock Price Index at a dealing room of the Hana Bank headquarters in Seoul on Monday. (Yonhap)

South Korean stocks opened higher Monday as investors hunted for bargains after four consecutive sessions of losses through Friday amid dashed hopes for an early rate cut by the Federal Reserve.

The benchmark Korea Composite Stock Price Index added 11.09 points, or 0.41 percent, to 2,698.69 in the first 15 minutes of trading.

Chemical shares opened higher, with cosmetics giant AmorePacific rising 0.49 percent and SK Innovation adding 0.88 percent.

Financial firms gained ground as well, with KB Financial rising 1.04 percent and Shinhan Financial moving up 0.63 percent.

Top tech giant Samsung Electronics, however, edged down 0.92 percent, while No. 2 chipmaker SK hynix climbed 2.22 percent.

The local currency was trading at 1,366.7 won against the US dollar, up 2.8 won from the previous session's close. (Yonhap)

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