Seoul stocks open sharply higher, rebounding from crash

SEOUL, Nov. 6 (Yonhap) -- South Korean shares opened more than 1 percent higher Thursday as big-cap tech shares rebounded from their crash the previous day, which had been sparked by woes over the valuation of artificial intelligence (AI)-related stocks.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 55.89 points, or 1.4 percent, to 4,060.31 in the first 15 minutes of trading, recovering from a nearly 3 percent fall on Wednesday.
Overnight, major U.S. indexes closed higher, rebounding from their falls the previous day sparked by concerns surrounding an AI bubble.
The Dow Jones Industrial Average gained 0.48 percent, the tech-heavy Nasdaq composite rose 0.65 percent, and the S&P 500 went up 0.37 percent.
In Seoul, most big-cap stocks started in positive territory.
Market bellwether Samsung Electronics increased 1.19 percent, and its chipmaking rival SK hynix jumped 3.63 percent.
Leading battery maker LG Energy Solution soared 3.02 percent, and defense giant Hanwha Aerospace climbed 2.53 percent.
Shipbuilders also rebounded, with HD Hyundai Heavy surging 2.84 percent, Hanwha Ocean rising 1.9 percent and HD Korea Shipbuilding gaining 0.93 percent.
Electric equipment builder HD Hyundai Electric advanced 3 percent, and the state-run Korea Electric Power jumped 5.4 percent.
On the other hand, internet portal operator Naver shed 1.62 percent, and AI investing firm SK Square dipped 1.15 percent.
The local currency was trading at 1,444.2 won against the U.S. dollar as of 9:15 a.m., up 5.2 won from the previous session.

Sumber : yna.co.kr