Won moves up as Kospi climbs on chip, battery gains

Korean stocks opened sharply higher Monday led by gains on semiconductor and battery shares amid eased woes over the U.S. administration's sweeping tariffs.

The Kospi rose 29.8 points, or 1.22 percent, to 2,462.52 in the first 15 minutes of trading.

Most blue chips advanced following losses in the previous session. Samsung Electronics jumped 2.36 percent, and chip rival SK hynix added 1.6 percent.

Leading battery maker LG Energy Solution rose 1.64 percent, and industry rival Samsung SDI also gained 2.62 percent.

Top automaker Hyundai Motor inched up 0.28 percent, and leading defense equipment manufacturer Hanwha Aerospace added 1.03 percent.

Shipbuilders also gained momentum. Industry leader HD Hyundai Heavy Industries soared 3.07 percent, and Samsung Heavy Industries rose 2.07 percent.

The local currency was trading at 1,424.85 won against the dollar at 9:15 a.m., jumping 25.05 won from the previous session.

Yonhap