South Korean stocks Thursday opened lower but turned around soon despite overnight Wall Street losses.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 0.11 percent to 1,564.51 as of 10 a.m.
Most large-cap shares opened lower, with tech shares including Samsung Electronics and LG Electronics losing substantial ground. Financials also lost ground, led by declines of brokerage giant Samsung Securities and major lender Industrial Bank of Korea.
Steel shares, however, opened sharply higher, helping trim the losses. Industry leader POSCO and smaller Hyundai Steel were up 1.82 percent and 1.58 percent respectively.
On Wednesday, U.S. stocks retreated on renewed concerns over the credit crisis and sluggish domestic demand. The Dow Jones industrial average fell 0.94 percent and the tech-dominated Nasdaq composite index edged down 0.08 percent.
The tech-savvy Kosdaq market also rose 0.23 percent to 522.93 as of 10 a.m.
The Korean currency was trading at 1,039 won to the U.S. dollar as of 9:15 a.m., up 0.4 won from Wednesday's close.