Seoul shares open higher on steel, brokerage gains
SEOUL, April 26 (Yonhap) -- South Korean stocks opened substantially higher Thursday, led by strong gains among steel and securities firms, analysts said.
The benchmark Korea Composite Stock Price Index (KOSPI) climbed 13.56 points, or 0.88 percent, to 1,559.11 in the first 15 minutes of trading.
Leading steelmaker POSCO and smaller rival Hyundai Steel were both in the plus column.
Stock brokerages started higher as investors bet that a proposed capital market consolidation bill would boost their profits. Top brokerage Samsung Securities gained ground.
Samsung Electronics and other tech exporters also opened in positive territory.
The local currency was trading at 927.4 won to the U.S. dollar as of 9:15 a.m., down 0.7 won from Wednesday's close.
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