Kospi opens higher on U.S. gains, eased AI bubble concerns

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Kospi opens higher on U.S. gains, eased AI bubble concerns

A screen in Hana Bank's trading room in central Seoul shows the Kospi trading in the morning hours on Feb. 10. [YONHAP]

A screen in Hana Bank's trading room in central Seoul shows the Kospi trading in the morning hours on Feb. 10. [YONHAP]

 
Shares kicked off higher Tuesday, tracking overnight gains on Wall Street led by eased AI  bubble concerns.
 
The benchmark Kospi climbed 39.13 points, or 0.74 percent, to 5,337.17 in the first 15 minutes of trading, rising above the landmark 5,300-point mark.
 

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Overnight, the Nasdaq composite gained 0.9 percent, and the S&P 500 added 0.47 percent as investors chipped in tech shares amid soothed concerns over AI valuation and awaited the planned release of key U.S. economic reports throughout this week. The Dow Jones Industrial Average edged up 0.04 percent.
 
In Seoul, large cap shares kicked off mixed.
 
Semiconductor heavyweights Samsung Electronics and SK hynix increased 0.6 percent and 1.24 percent, respectively, tracking bullish U.S. tech shares.
 
Auto giant Hyundai Motor soared 3.45 percent, and its sister Kia rose 1.17 percent.
 
Financial shares also started strong, with KB Financial up 2.05 percent and Shinhan Financial jumping 3.43 percent. Samsung Life Insurance advanced 2.64 percent.
 
On the other hand, leading battery maker LG Energy Solution lost 1.14 percent, and defense giant Hanwha Aerospace shed 2.35 percent.
 
Power plant builder Doosan Enerbility went down 1.26 percent, and Korea Electric Power dipped 1.44 percent.
 
The won strengthened by 1.3 won from the previous session to trade at 1,459 won against the dollar as of 9:15 a.m.

Yonhap
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