SEOUL: South Korean stocks started a tad higher on Tuesday on gains in tech firms and automakers, with the local currency extending its losing streak against the U.S. dollar.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.09 points, or 0.43 percent, to 1,891.31 in the first 15 minutes of trading.
Samsung Electronics, the country’s top market cap, gained 0.18 percent and No. 2 handset maker LG Electronics advanced 0.81 percent.
Samsung Group shares traded bullish, with Cheil Industries, the group’s de facto holding company, jumping 4.35 percent and Samsung SDS, its IT solution unit, adding 2.94 percent.
No. 1 automaker Hyundai Motor increased 0.66 percent and its sister affiliate, Kia Motors, rose 0.2 percent.
The local currency was trading at 1,205.75 won against the U.S. dollar as of 9:15 a.m., down 2.05 won from Monday’s close, amid growing uncertainties about the timing of a U.S. interest rate hike.
