SEOUL: South Korean stocks got off to a strong start on Wednesday, driven by gains in large caps including telecom, chemicals and refinery issues, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) rose 8.59 points, or 0.42 percent, to 2,072.62 in the first 15 minutes of trading.
Most large caps started higher, with mobile carrier SK Telecom jumping 1.59 percent.
No. 2 automaker Kia Motors advanced 2.2 percent, while refiner SK Innovation gained 2.48 percent on reports about a hike in international crude oil prices.
The local currency was trading at 1,119.45 won against the U.S. dollar as of 9:15 a.m., down 0.55 won from Tuesday’s close.