SEOUL: South Korean shares opened higher on Tuesday as investors welcomed a tentative agreement on a third Greek bailout scheme, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) added 6.68 points, or 0.32 percent, to 2,068.2 in the first 15 minutes of trading.
Bio shares traded in the positive terrain. Schnell Biopharmaceutical jumped 19.25 percent, and Yuhan Corporation, a major drugmaker, rose 2.51 percent.
POSCO increased 4.05 percent as the nation’s top steelmaker, currently under investigation for a corruption scandal, was set to announce a series of reform measures on Wednesday to improve its financial structure.
Eurozone leaders struck a deal Monday on a third bailout program to prevent Greece from leaving the single currency bloc, but the agreement forces Athens to push through tough reform measures.
The local currency was trading at 1,137.6 won against the dollar in Seoul as of 9:15 a.m., down 7 won from Monday’s close.
