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Seoul stocks open tad higher on bargain hunting


The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap)

The benchmark Korea Composite Stock Price Index (Kospi) figures are displayed at a dealing room of a local bank in Seoul, Thursday. (Yonhap)

South Korean stocks opened slightly higher Thursday as investors sought to buy oversold stocks after the recent stock plunge.

The benchmark Korea Composite Stock Price Index (Kospi) rose 4.19 points, or 0.15 percent, to 2,846.47 in the first 15 minutes of trading.

Stocks edged up after a choppy start, following the key stock index’s four-day losing streak.

Steel and chemical heavyweights led the gain.

Steelmaker Posco added 2.64 percent, battery maker LG Chem advanced 1.23 percent, and SK Innovation climbed 0.76 percent.

Top cap Samsung Electronics lost 0.26 percent, and No. 2 chipmaker SK hynix decreased 2.36 percent. Pharmaceutical giant Samsung Biologics slipped 0.12 percent.

The local currency was trading at 1,188.8 won against the US dollar, up 2.9 won from the previous session’s close. (Yonhap)





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