SEOUL, April 1 (Yonhap) — South Korean stocks opened higher Thursday as investor sentiment was boosted by a massive infrastructure project by the United States.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.6 points, or 0.87 percent, to 3,088.02 points in the first 15 minutes of trading.
Overnight, the U.S. President Joe Biden announced a US$2.25 trillion infrastructure proposal that is expected to quicken the global economic rebound and benefit local exporters.
In Seoul, top cap Samsung Electronics added 1.97 percent, and No. 2 chipmaker SK hynix added 3.77 percent.
Top automaker Hyundai Motor moved up 2.06 percent, but internet portal operator Naver lost 0.8 percent. Leading chemical firm LG Chem gained 1.24 percent.
Pharmaceutical firm Samsung Biologics traded flat.
The local currency was trading at 1,128.25 won against the U.S. dollar, up 3.55 won from the previous session’s close.