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Seoul Shares Rise as U.S. Government Shutdown Nears End

Seoul: Seoul shares opened higher Thursday as the U.S. House of Representatives voted to end the record-long government shutdown, lifting investor sentiment. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6.21 points, or 0.15 percent, to 4,156.60 in the first 15 minutes of trading. The Korean financial market opened an hour later than usual at 10 a.m. due to the nationwide college entrance exam.

According to Yonhap News Agency, overnight U.S. stocks closed mixed, with the Dow Jones Industrial Average rising 0.68 percent and the tech-heavy Nasdaq composite slipping 0.26 percent. The U.S. House of Representatives voted to end the 43-day government shutdown following the Senate's passage of a short-term funding bill.

In Seoul, technology stocks led the gains. Market bellwether Samsung Electronics rose 0.87 percent, and its chip rival SK hynix climbed 0.16 percent. Leading steelmaker POSCO Holdings jumped 2.67 percent, and LG Chem advanced 3.3 percent.

Among decliners, state-run Korea Gas Corp. fell 1.28 percent, and leading battery maker LG Energy Solution declined 0.11 percent. The local currency had been trading at 1,473.25 won against the U.S. dollar as of 10:15 a.m., down 7.55 won from the previous session's close.

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