Seoul: Seoul shares opened higher Tuesday, tracking gains on Wall Street, helped by gains in auto and battery stocks. The benchmark Korea Composite Stock Price Index (KOSPI) rose 2.27 points, or 0.09 percent, to 2,634.34 in the first 15 minutes of trading.
According to Yonhap News Agency, the Dow Jones Industrial Average rose 1.42 percent overnight, and the tech-heavy Nasdaq composite advanced 2.27 percent. Auto and battery stocks led the gains in Seoul.
Top carmaker Hyundai Motor jumped 5.16 percent, with its smaller affiliate Kia rising 3.04 percent. Leading auto parts maker Hyundai Mobis advanced 1.79 percent. The automaking group announced a record US$21 billion investment in the United States through 2028 amid the Trump administration's tariff policies.
Leading battery maker LG Energy Solution saw a jump of 3.02 percent, while No. 2 battery firm Samsung SDI was up 1.24 percent. These gains came on the news that Hyundai Motor Group will invest US$21 billion in the U.S. through 2028 amid pressure from the Trump administration's tariff policies to boost domestic manufacturing.
Among decliners, market bellwether Samsung Electronics fell 0.5 percent, and chip giant SK hynix declined 0.71 percent. Leading shipbuilder HD Hyundai Heavy Industries fell 2.85 percent, and shipbuilder Hanwha Ocean declined 3.83 percent.
The local currency was trading at 1,468.95 won against the greenback at 9:15 a.m., down 1.25 won from the previous session.