South Korean stocks opened higher on Monday following continued hopes for a potential US rate cut. The benchmark Korea Composite Stock Price Index rose in early trading, with market heavyweights like Samsung Electronics and Hyundai Motor showing positive momentum. The local currency was also trading slightly down against the US dollar. On Wall Street, US stocks hit a record high on Friday, contributing to the positive sentiment in global markets. The Dow Jones Industrial surpassed the 40,000 point mark for the first time, reflecting overall optimism among investors.
In Seoul, top cap Samsung Electronics saw a jump of over 1 percent, while other key players like SK hynix, Hyundai Motor, and LG Energy Solution also showed gains. Steel giant Posco Holdings and F&B firm CJ Cheiljedang added to the bullish trend. The positive start in South Korean markets reflects a broader sense of confidence among investors, driven by expectations of potential rate cuts in the US. The market’s performance will be closely monitored throughout the day as investors keep an eye on any further developments.
