Seoul: South Korean stocks opened higher Wednesday in line with overnight gains on Wall Street. The benchmark Korea Composite Stock Price Index (KOSPI) rose 23.89 points, or 0.96 percent, to 2,505.58 in the first 15 minutes of trading.
According to Yonhap News Agency, Wall Street stocks were buoyed by eased concerns over trade following U.S. President Donald Trump's decision to pause the imposition of tariffs on Canada and Mexico for a month. The S and P 500 finished up 0.72 percent, the Dow Jones Industrial Average climbed 0.30 percent, and the Nasdaq composite added 1.35 percent.
In Seoul, most blue chips traded higher, with market heavyweight Samsung Electronics rising 1.14 percent and chipmaking rival SK hynix also up 2.09 percent. Battery and automotive shares also advanced, with LG Energy Solution climbing 2.55 percent and Hyundai Motor adding 1 percent.
Kakao Bank jumped 2.35 percent after reporting record earnings. In contrast, internet technology service provider LG CNS, which made its stock market debut, dropped 6.14 percent. The local currency was trading at 1,455.20 won against the U.S. dollar at 9:15 a.m., up 7.70 won from the previous session.