Seoul: South Korean stocks opened slightly higher Tuesday, moving in line with overnight U.S. stock gains over eased concerns over President Donald Trump's tariff measures. The benchmark Korea Composite Stock Price Index (KOSPI) rose 11.07 points, or 0.45 percent, to 2,466.96 in the first 15 minutes of trading.
According to Yonhap News Agency, Wall Street closed higher following Trump's announcement of an exemption from reciprocal tariffs for smartphones, computers, and other electronics over the weekend. The S and P 500 gained 0.79 percent, the Dow Jones Industrial Average climbed 0.78 percent, and the tech-heavy Nasdaq composite rose 0.64 percent.
In Seoul, chip and automotive shares led the overall gains. Market cap Samsung Electronics climbed 1.25 percent and chip rival SK hynix added 0.17 percent. Hyundai Motor and Kia, the country's leading automakers, jumped 2.45 percent and 2.53 percent, respectively, after Trump suggested considering pausing Washington's auto tariffs to give global automakers more time to relocate production to America.
Financial and internet portal shares also advanced, with KB Financial adding 0.79 percent and top portal operator Naver rising 1.64 percent. The local currency was trading at 1,424.25 won against the U.S. dollar at 9:15 a.m., down 0.15 won from the previous session.