South Korean stocks opened higher Monday as investors scooped up financials, bios and other blue chips following last week's overall market decline amid eased tensions in the Middle East. The benchmark Korea Composite Stock Price Index gained 32.11 points, or 1.24 percent, to trade at 2,623.97 in the first 15 minutes of trading. Financial stocks led the overall bullish market, with KB Financial surging 5.49 percent and Shinhan Financial soaring 5.39 percent. Bio shares also gained strong momentum, with Celltrion rising 1.91 percent and Samsung Biologics advancing 1.54 percent. Auto and battery makers also enjoyed brisk gains in early trading. Industry leader Hyundai Motor and No. 2 automaker Kia added 3.62 percent and 2.17 percent, respectively. Top battery maker LG Energy Solution rose 1.23 percent. In contrast, tech shares lost ground after Nvidia shares plunged last week. Market heavyweight Samsung Electronics and chip rival SK hynix fell 0.26 percent and 0.92 percent, respectively. The local curre ncy was trading at 1,377.7 won against the greenback, up 4.5 won from the previous session's close. Source: Yonhap News Agency
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