Seoul Stock Market Opens with Modest Gains in Tech and Energy Sectors

The South Korean stock market witnessed a modest increase in its opening hours on Tuesday, buoyed by the performance of technology and energy companies, as well as other significant players in the market.

The key stock index that tracks the value of shares on the market, the Korea Composite Stock Price Index (KOSPI), experienced a rise of 5.99 points, which translates to a 0.23 percent increase, settling at 2,665.83 within the initial 15 minutes once trading commenced. This uptick points to a positive sentiment among investors towards blue-chip stocks in the Korean market.

In the tech sector, shares began the day slightly higher. Prominent semiconductor manufacturer SK hynix saw a small gain of 0.12 percent, while consumer electronics giant LG Electronics enjoyed a more robust increase, with its shares jumping 1.15 percent.

Witnessing an uptick as well were shares in the energy and chemical sectors. SK Innovation, a leading oil refiner, and LG Chem, a major chemical producer, saw their shares appreciate by 1.69 percent and 2.75 percent, respectively.

In parallel with these increases, the South Korean currency, the won, strengthened against the US dollar. The local currency was quoted at 1,312.45 won to the dollar, which is an improvement of 2.15 won from the previous session's close.

Seoul, Stocks, Tech