SEOUL, Dec. 28 (Yonhap) — South Korean stocks opened higher Monday, backed by strong advances by major tech firms.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 16.87 points, or 0.6 percent, to 2,823.73 in the first 15 minutes of trading.
Stocks traded bullish after finishing at an all-time high the previous session, led by chip and bio advances.
The gain came amid investors’ optimism over whether the United States, one of South Korea’s largest trading partners, would finalize a coronavirus stimulus package.
Market bellwether Samsung Electronics added 2.06 percent, and No. 2 chipmaker SK hynix added 0.42 percent.
Pharmaceutical giant Samsung Biologics advanced 0.63 percent, and Celltrion rose 0.86 percent.
Internet portal giant Naver lost 0.35 percent, with its rival Kakao retreating 0.8 percent.
Leading chemical firm LG Chem dropped 0.86 percent, and rechargeable battery maker Samsung SDI declined 0.53 percent.
Hyundai Motor, the country’s largest carmaker, hiked 0.8 percent.
The local currency was trading at 1,102.95 won against the U.S. dollar, up 0.05 won from the previous session’s close.