Shares Open Higher on Wall Street Gains
South Korean stocks started stronger Tuesday as investors were encouraged by overnight rises in U.S. markets, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.13 point, or 0.01 percent, to 1,883.72 in the first 15 minutes of trading.
Chip giant Hynix Semiconductor and flat-panel leader LG Philips LCD both gained ground.
Power monopoly Korea Electric Power Corp. advanced 3.64 percent on expectations that state-owned companies, including its subsidiary, may list their shares on the Seoul bourse this year.
But market leader Samsung Electronics and leading steelmaker POSCO both lost ground.
U.S. stocks closed higher Monday on expectations of solid corporate earnings. The Dow Jones industrial average gained 0.28 percent and the Nasdaq composite index rose 0.13 percent.
The local currency was trading at 920.8 won to the U.S. dollar as of 9:15 a.m., up 0.1 won from Monday's close.