Seoul stocks open higher amid U.S.-China trade tensions

SEOUL, Oct. 15 (Yonhap) -- South Korean stocks opened higher on Wednesday amid renewed concerns over a trade war between the United States and China.
The benchmark Korea Composite Stocks Price Index (KOSPI) rose 40.13 points, or 1.13 percent, to 3,601.94 in the first 15 minutes of trading.
Overnight, U.S. stocks ended mixed, as investors weighed Federal Reserve Chair Jerome Powell's comments on the U.S. economy in the face of reemerging trade tensions between the world's largest economies.
The Dow Jones Industrial Average advanced 0.44 percent, while the S&P 500 inched down 0.16 percent, and the tech-heavy Nasdaq fell 0.76 percent.
On Tuesday (local time), Powell said that the outlook for employment and inflation "does not appear to have changed much" since September, when the Fed cut the country's base rate for the first time this year.
His comments hinted at a possible rate cut at its upcoming policy meeting scheduled later this month. The Fed will have to make its interest rate decision without the latest federal data due to the government shutdown.
Trade tensions between the U.S. and China flared up again after President Donald Trump threatened to cut trade in cooking oil, accusing Beijing of "purposefully" not buying soybeans from the U.S.
In Seoul, most large cap shares were trading higher.
Top-cap Samsung Electronics moved up 1.97 percent, while its rival SK hynix added 0.73 percent.
Major portal operator Naver inched up 0.19 percent, bio firm Samsung Biologics shot up 6.62 percent, and battery maker LG Energy Solution fell 1.82 percent.
The local currency was quoted at 1,426.5 won against the greenback as of 9:15 a.m., up 4.5 won from the previous session's close.

Sumber : yna.co.kr