Seoul shares open higher on chemical gains
South Korean stocks opened higher Monday, led by gains in major tech and chemical shares as investors looked to developments in trade talks with the United States.
The benchmark Korea Composite Stock Price Index rose 21.62 points, or 0.71 percent, to 3,077.56 in the first 15 minutes of trading.
Eyes are on negotiations with the US on Washington's aggressive tariff scheme, with 10 days to go before the US' country-specific tariffs will resume.
In April, US President Donald Trump decided to suspend the imposition of the reciprocal tariffs on trading partners, including 25 percent duties on South Korea, until July 8 to allow time for negotiations. The Trump administration has signaled openness to extending the pause on the new tariffs.
Most big-cap tech shares opened higher.
Chip giant SK hynix rose 1.23 percent, and leading battery maker LG Energy Solution surged 2.6 percent.
But market bellwether Samsung Electronics lost 0.49 percent on profit-taking.
Top chemical firm LG Chemical soared 1.44 percent, and No. 1 steelmaker POSCO Holdings advanced 1.54 percent.
Nuclear power plant manufacturer Doosan Enerbility spiked 7.6 percent on news that its president, Kim Jung-kwan, was nominated as industry minister.
Carmakers opened mixed. Top automaker Hyundai Motor edged up 0.12 percent, while its sister affiliate Kia shed 0.1 percent.
The local currency was trading at 1,359.4 won against the greenback at 9:15 a.m., down 2 won from the previous session. (Yonhap)
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