Seoul: South Korean stocks opened higher Friday following a trade agreement between the United States and Britain, which could give a glimpse of upcoming trade deals with other countries. The benchmark Korea Composite Stock Price Index (KOSPI) added 7.28 points, or 0.28 percent, to 2,586.76 in the first 15 minutes of trading.
According to Yonhap News Agency, on Wall Street, major stock indices finished higher on improved sentiment for trade talks. The Dow Jones Industrial Average rose 0.62 percent, and the Nasdaq Composite advanced 1.07 percent. In Seoul, major shares started in positive territory.
Market bellwether Samsung Electronics inched up 0.09 percent, and its chipmaking rival SK hynix climbed 0.63 percent. Top carmaker Hyundai Motor rose 2.57 percent, and leading biotech firm Samsung Biologics added 0.39 percent. Defense giant Hanwha Aerospace increased 0.23 percent, and major retailer Lotte Shopping rose 3.76 percent.
The local currency was trading at 1,406.5 won against the U.S. dollar at 9:15 a.m., down 11.2 won from the previous session.