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S Korea shares open higher on Wall Street gains

SEOUL (ANN/KOREA HERALD) – Stocks in Seoul opened slightly higher Tuesday, tracking overnight gains on Wall Street ahead of a US Fed meeting.

The benchmark Korea Composite Stock Price Index added 9.99 points, or 0.37 per cent, to 2,711.16 in the first 15 minutes of trading.

The positive start follows overnight gains on Wall Street, with investors taking caution ahead of the US Federal Open Market Committee meeting slated for Tuesday and Wednesday.

The Dow Jones Industrial Average added 0.18 per cent to close at 38,868.04, with the Nasdaq gaining 0.35 per cent on Monday.

However, South Korea’s large caps traded mixed.

Market kingpin Samsung Electronics shed 0.13 per cent, with the world’s No 2 chipmaker SK hynix retreating 0.96 per cent.

Leading carmaker Hyundai Motor and its smaller affiliate Kia Motors advanced 0.93 per cent and 0.25 per cent, respectively, while top battery maker LG Energy Solution spiked 1.42 per cent.

The local currency was trading at KRW1,376.15 against the US dollar, down KRW0.15 from the previous session’s close.

Currency traders at KEB Hana Bank headquarters in Seoul, South Korea. PHOTO: AP