SEOUL: South Korean stocks trended higher after a bearish start Tuesday, as top-cap shares drove up the index despite concerns over debt-mired Greece, analysts said.
Opening 0.27 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) added 3.48 points, or 0.17 percent to 2,063.97 in the first 15 minutes of trading.
Market behemoth Samsung Electronics edged up 0.08 percent, with Cheil Industries, the de facto holding firm of Samsung Group, jumping 1.72 percent ahead of a crucial IR session to be held later in the day in defense against a U.S. hedge fund’s move to stop its merger with another Samsung unit.
But financial shares traded lower amid heightening concerns over the Greek debt problem, with Shinhan Financial falling nearly 1 percent and Samsung Fire & Marine Insurance sliding 1.3 percent.
The Korean won was trading at 1,119.65 won against the U.S. dollar as of 9:15 a.m., up 6.85 won from Monday’s close.
