Seoul: South Korean stocks opened higher Thursday as investors opted to buy blue chip bargains following a four-day slide. The Korean won was trading little changed against the U.S. dollar as the currency authorities vowed to actively respond to excessive foreign exchange volatility. The benchmark Korea Composite Stock Price Index gained 15.57 points, or 0.64 percent, to 2,432.65 in the first 15 minutes of trading. The previous session, the index dipped to the lowest in a year. According to Yonhap News Agency, the Korean financial market opened an hour later than usual at 10 a.m. due to the national college entrance exam. Tech giant Samsung Electronics increased 0.99 percent, while its chipmaking rival SK hynix shed 2.24 percent. Top battery maker LG Energy Solution rose 1.33 percent, and its smaller rival Samsung SDI surged 5.28 percent. Leading automaker Hyundai Motor was also up 0.3 percent, with its sister Kia adding 0.77 percent. Defense and shipbuilding firms also kicked off bullish, with Hanwha Aerosp ace up 2.49 percent and HD Hyundai Heavy up 3.12 percent. The local currency was trading at 1,406.5 won against the greenback, up 0.1 won from the previous session, continuing to hover above the psychologically important level of 1,400 won.
Seoul Shares Open Higher After 4-Day Loss.
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