Seoul shares opened higher Wednesday, tracking overnight gains on Wall Street, though continued uncertainty in the Middle East remains a concern for investors.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 226.08 points, or 3.3 percent, to 7,082.91 at the opening bell. After opening 3.3 percent higher, the index extended gains, rising 415.65 points, or 6.06 percent, to 7,272.48 as of 9:15 a.m.
The index closed 0.73 percent higher Tuesday after rebounding from an 8.95 percent plunge a session earlier due to a massive sell-off of technology stocks. Overnight, the Dow Jones Industrial Average rose 0.02 percent to 52,508.27, while the tech-heavy Nasdaq Composite climbed 0.9 percent to 26,107.01.
In Seoul, tech stocks led the gains. Market bellwether Samsung Electronics jumped 6.84 percent, and its chipmaking rival SK Hynix surged 11.76 percent. Top carmaker Hyundai Motor rose 2.71 percent, defense firm Hanwha Aerospace climbed 5.5 percent, and steelmaker POSCO Holdings gained 3.95 percent. The Korean won was trading at 1,489.35 won against the U.S. dollar, up 1.15 won from the previous session, as of 9:15 a.m.
