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Kospi opens higher on U.S. gains

Published: 18 Jul. 2025, 10:04

A screen in Hana Bank's trading room in central Seoul shows the Kospi trading in the morning hours on July 18. [YONHAP]

Shares opened higher Friday, tracking gains on Wall Street following the release of strong economic data despite lingering concerns over U.S. tariffs.

The benchmark Kospi rose 4.54 points, or 0.14 percent, to 3,196.83 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average rose 0.52 percent to 44,484.49, and the tech-heavy Nasdaq composite climbed 0.75 percent to 20,885.65.

An increase in U.S. retail sales in June eased concerns over weak consumer spending, while applications for U.S. unemployment benefits also declined last month.

U.S. President Donald Trump recently notified key U.S. trading partners of new tariff rates set to take effect Aug. 1 unless they offer sweetened terms in ongoing negotiations.

In Seoul, tech and auto stocks led gains.

Market bellwether Samsung Electronics rose 1.05 percent, and chip giant SK hynix climbed 0.19 percent.

Top carmaker Hyundai Motor gained 0.48 percent, and leading battery maker LG Energy Solution was up 1.26 percent.

Among decliners, shipbuilder Hanwha Ocean fell 0.74 percent, and leading shipping firm HMM shed 1.78 percent.

The local currency was trading at 1,391.15 won against the dollar at 9:15 a.m., down 0.1 percent from the previous session's 3:30 p.m. quote of 1,392.60 won.

Yonhap