Seoul: South Korean stocks opened higher Tuesday on gains from auto and shipbuilding shares. The benchmark Korea Composite Stock Price Index (KOSPI) rose 26.75 points, or 0.58 percent, to 4,651.54 in the first 15 minutes of trading.
According to Yonhap News Agency, the positive opening in Seoul was influenced by the overnight performance of the U.S. stock market, where investors reacted to the U.S. Justice Department's criminal investigation of Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average rose 0.17 percent, and the Nasdaq Composite gained 0.26 percent.
In the South Korean market, auto and shipbuilding shares were prominent gainers. Hyundai Motor, a leading car manufacturer, soared 6.95 percent, while its auto parts affiliate Hyundai Mobis surged 8.25 percent. In shipbuilding, HD Hyundai Heavy Industries saw an increase of 3.64 percent, and Hanwha Ocean added 1.1 percent.
Bio shares also showed strength, with Samsung Biologics climbing 3.07 percent and Celltrion rising 2.1 percent. However, chip giant Samsung Electronics remained flat, and SK hynix experienced a slight decline of 0.53 percent.
The local currency was trading at 1,470.25 won against the U.S. dollar at 9:15 a.m., marking a decrease of 1.85 won from the previous session.