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Kospi opens higher on U.S. gains

Published: 07 Aug. 2025, 10:15 Updated: 07 Aug. 2025, 11:46

A screen in Hana Bank's trading room in central Seoul shows the Kospi opening on Aug. 7. [YONHAP]

Korean shares opened higher Thursday, tracking overnight gains on Wall Street, with advances in tech and auto stocks lending support.

The Kospi rose 6.5 points, or 0.2 percent, to 3,204.64 in the first 15 minutes of trading.

Overnight, U.S. stocks closed higher, led by tech gains, as investors shrugged off U.S. President Donald Trump's latest tariff announcements.

The Nasdaq Composite climbed 1.21 percent to close at 21,169.42 Wednesday, while the Dow Jones Industrial Average slipped 0.18 percent to 44,193.12.

In Seoul, auto and tech stocks led the gains.

Market bellwether Samsung Electronics rose 1.53 percent on news that the chipmaker will manufacture Apple's next-generation processor at its foundry in Austin, Texas.

Hyundai Motor advanced 1.43 percent following reports that the Korean automaker and General Motors will jointly develop five new models for American markets.

Top shipbuilder HD Hyundai Heavy Industries jumped 3.11 percent, while tech firm Kakao surged 5.99 percent, and leading battery maker LG Energy Solution edged up 0.13 percent.

Among decliners, major steelmaker Posco Holdings slipped 0.5 percent, and leading refiner SK Innovation dropped 0.87 percent.

The local currency was trading at 1,386.2 won against the greenback at 9:15 a.m., down 0.24 percent from the previous session's quote of 1,389.5 won.

Yonhap