SEOUL, March 11 (Yonhap) – South Korean stocks opened higher Thursday on eased inflation concerns.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.93 points, or 0.91 percent, to 2,985.05 points in the first 15 minutes of trading.
The KOSPI rebounded after losing ground for the fifth session in a row as foreigners and individuals bought on bottom fishing.
The yields of the benchmark 10-year U.S. Treasury stabilized just above the 1.5 percent mark, soothing investor concerns over fast post-pandemic inflation.
In Seoul, top cap Samsung Electronics gained 0.87 percent, and No. 2 chipmaker SK hynix advanced 2.63 percent.
Leading chemical firm LG Chem added 2.81 percent, and rechargeable battery maker Samsung SDI jumped 3.62 percent. Top automaker Hyundai Motor climbed 0.88 percent.
Giant pharmaceutical firm Samsung Biologics went up 1.17 percent, while top internet portal operator Naver lost 0.4 percent.
The local currency was trading at 1,137.2 won against the U.S. dollar, up 5.5 won from the previous session’s close.