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Seoul stocks open higher on bargain hunting

09:31 October 19, 2020

SEOUL, Oct. 19 (Yonhap) -- South Korean stocks opened higher Monday on investors' bargain hunting rush following a drop for four straight days.

The benchmark Korea Composite Stock Price Index (KOSPI) advanced 15.37 points, or 0.66 percent, to 2,356.9 in the first 15 minutes of trading.

Stocks came to a strong start, led by gains in tech and bio firms.

Most large caps traded higher, with top market cap Samsung Electronics adding 1.18 percent and No. 2 chipmaker SK hynix gaining 1.88 percent.

Giant pharmaceutical firm Samsung Biologics rose 0.73 percent, and Celltrion climbed 0.97 percent.

Internet portal giant Naver edged up 0.17 percent, but leading chemical maker LG Chem dipped 2.19 percent.

Hyundai Motor, the country's largest automaker, retreated 1.16 percent, and top steelmaker POSCO jumped 2.97 percent.

The local currency was trading at 1,141.2 won against the U.S. dollar, up 6.2 won from the previous session's close.

jwc@yna.co.kr
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