Seoul stocks open tad higher on hopes for global economic recovery

SEOUL, April 9 (Yonhap) — South Korean stocks opened higher Friday, tracking overnight Wall Street gains amid growing hopes for a global economic recovery.

The benchmark Korea Composite Stock Price Index (KOSPI) rose 3.25 points, or 0.1 percent, to 3,146.51 points in the first 15 minutes of trading.

Overnight, the S&P 500 gained 0.42 percent to a new record closing, with the tech-heavy Nasdaq Composite adding 1.03 percent.

In Seoul, market kingpin Samsung Electronics retreated 0.35 percent, and No. 2 chipmaker SK hynix traded flat.

Internet portal giant Naver moved up 0.52 percent, with leading carmaker Hyundai Motor stepping down 0.65 percent.

Leading chemical maker LG Chem edged up 0.12 percent, and top pharmaceutical firm Samsung Biologics traded flat.

The local currency was trading at 1,114.75 won to the U.S. dollar as of 9:15 a.m., up 2.45 won from the previous session’s close.