Seoul stocks open higher on Wall Street gains
[THE INVESTOR] Korean stocks opened higher on April 17 following overnight gains on Wall Street amid eased concerns over Syria and hopes for upbeat earnings reports.
The benchmark KOSPI added 3.77 points, or 0.15 percent, to 2,461.26 in the first 15 minutes of trading.
Overnight, the Dow Jones industrial average advanced 0.87 percent, and the tech-heavy NASDAQ composite index moved up 0.7 percent. Analysts pointed out that investors were optimistic about first-quarter corporate earnings, while geopolitical risks surrounding Syria have somewhat eased with slim chances for further escalation of violence.
Big-cap shares traded mixed, with the fall in bio shares limiting the upturn of the local index.
Market bellwether Samsung Electronics inched down 0.16 percent, while top carmaker Hyundai Motors surged 2.29 percent.
Celltrion, a major pharmaceutical firm, tumbled 1.02 percent, and Samsung Biologics, Samsung‘s health care unit, retreated 1.59 percent.
The local currency was trading at 1,069.40 won against the US dollar, up 4.60 won from the previous session’s close.
By Song Seung-hyun and newswires (firstname.lastname@example.org)