South Korean stocks opened higher Tuesday as tech shares gained on expectations of strong first-quarter performances.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 14.56 points, or 1.24 percent, to 1,188.13 in the first 15 minutes of trading. The index retreated to 1,195.92 as of 10:17 a.m. after briefly crossing the 1,200-point mark.
Large-cap information technology shares led gains, surging 2-5 percent, as they are widely expected to switch to profit in the January-March period.
The tech-savvy Kosdaq market was quoted at 348.76, up 5.99 points from Monday's close, as of 10:17 a.m.
The local currency was trading at 1,319.5 won to the U.S. dollar as of 9:15 a.m., down 5.55 won from Monday's close.