South korean stocks open higher, KOSPI edges up 5.96pts

SEOUL: South Korean stocks opened higher Thursday on the back of gains in financial and logistics shares, analysts said.

The benchmark Korea Composite Stock Price Index (KOSPI) edged up 5.96 points, or 0.29 percent, to 2,035.72 in the first 15 minutes of trading.

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Financial firms traded mostly higher, with Shinhan Financial moving up 0.84 percent and KB Financial climbing 1.48 percent. Hana Financial also advanced 0.17 percent.

Logistics firms also opened higher, with CJ Korea Express increasing 0.86 percent and top carrier Korean Air rising 2 percent. Hyundai Merchant Marine added 0.29 percent.

The local currency was trading at 1,172.55 won against the U.S. dollar as of 9:15 a.m., up 1.05 won from Wednesday’s close.