Kospi opens higher on tech and shipbuilding gains as investors eye U.S. inflation data

Shares opened higher Wednesday on gains in techs and shipbuilders, with investors awaiting key U.S. inflation data this week.

The Kospi rose 22.75 points, or 0.91 percent, to 2,520.15 in the first 15 minutes of trading.

Overnight, the Dow Jones Industrial Average rose 0.52 percent to 42,518.28 points, while the tech-heavy Nasdaq fell 0.23 percent to 19,044.39 points.

All eyes are now on the U.S. consumer price index report due later in the day, which may provide a glimpse into the future path of the Federal Reserve's rate policy.

In Seoul, tech and shipbuilding stocks led gains.

Samsung Electronics rose 1.11 percent, SK hynix climbed 2.26 percent and Hyundai Motor was up 0.45 percent.

HD Hyundai rose 2.17 percent, Korean Air gained 1.54 percent and SK Innovation was up 0.47 percent.

Among decliners, LG Energy Solution fell 0.42 percent, KT&G declined 0.18 percent and Hyundai Steel was down 0.23 percent.

The local currency was trading at 1,461.20 won against the greenback at 9:15 a.m., down 2 won from the previous session.

Yonhap