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Seoul shares open tad higher on bargain hunting on last trading day of 2024
SEOUL, Dec. 30 (Yonhap) -- Seoul shares opened slightly higher Monday, the last trading session of the year, as investors went bargain hunting following last week's losses stemming from ongoing political turbulence caused by a short-lived martial law attempt earlier this month.
The benchmark Korea Composite Stock Price Index (KOSPI) gained 9.69 points, or 0.4 percent, to 2,414.46 in the first 15 minutes of trading.
The South Korean financial market has been facing downside risks following President Yoon Suk Yeol's short-lived martial law declaration on Dec. 3, which led to the passage of an impeachment motion against him.
Battery and financial shares led the overall gains, with LG Energy Solution jumping 2.73 percent and KB Financial adding 0.47 percent.
Defense equipment and energy shares also advanced. Top defense equipment manufacturer Hanwha Aerospace rose 0.63 percent, and leading refiner SK Innovation added 1.80 percent.
In contrast, chipmakers retreated. Market heavyweight Samsung Electronics and chip rival SK hynix slid 0.74 percent and 0.11 percent, respectively.
Low-cost carrier Jeju Air and its parent company Aekyung Holdings plummeted 10.35 percent and 9.3 percent, respectively, following a deadly Jeju Air plane crash that claimed 179 lives Sunday, marking the worst-ever aviation disaster in South Korea.
The local currency was trading at 1,473.40 won against the greenback at 9:15 a.m., down 5.90 won from the previous session.
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