Kospi opens slightly higher as Samsung earnings lift tech shares

The Seoul bourse opened 0.07 percent higher as Samsung Electronics’ stronger-than-expected third-quarter profit estimate supported technology stocks despite oil-driven inflation concerns.

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Kospi and Kosdaq figures are shown on a dashboard inside Hana Bank's dealing room in central Seoul on Oct. 8.

Seoul shares opened higher Thursday, led by gains in technology stocks despite inflation worries stoked by elevated oil prices.

The benchmark Kospi rose 4.78 points, or 0.07 percent, to 6,808.68 at the opening bell.

Technology stocks advanced after Samsung Electronics posted an estimated operating profit of 107 trillion won ($79.8 billion) in the third quarter, exceeding market forecasts by 1.6 percent.

Overnight, the Dow Jones Industrial Average fell 0.66 percent, while the tech-heavy Nasdaq composite declined 0.22 percent.

Yonhap

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